Sale of agricultural land
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 February 2015
Dear Sir,
I hold an agricultural land. It is being used for nursery buisness (growing and selling of plants) for the past 3 years. I am planning to sell it in 2015-16. Will i be able to claim exemption of cap gains? Is there a condition on reinvesting the money?
I hold an agricultural land. It is being used for nursery buisness (growing and selling of plants) for the past 3 years. I am planning to sell it in 2015-16. Will i be able to claim exemption of cap gains? Is there a condition on reinvesting the money?
05 February 2015
If it is a rural agricultural land it is exempted from capital gain. In case of urban land condition for reinvesting is there.
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