Land acquired by central govt
This query is : Resolved
vineethmohanan
(Querist)
27 October 2014
A land which used for agricultural purpose from last 3years, then the land acquired by the central govt he get compensation of ₹5crore , whether he is liable to pay tax???
Harsha goyal
(Expert)
27 October 2014
sale of urban agricultural land is liable to capital gains. However exemptions can be claimed by investing the amount in another agricultural land (whether urban or rural) within 2 years from date of receipt of such compensation.
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