16 July 2010
our's is a partnership firm.In 1994 we had purchased a piece of land in firm's name to run the business.The land holds the non agricultural status.At present the business is in windingup position and we intend to sell the land.The profit in selling the land will be a hefty amount.I want to know that is there any scheme to save the long term capital gain tax? Please advice. Thanks.
CAclubindia
