19 January 2022
In 2010, assessee has purchased agri. land and after that in 2019 he converted it into non agri. land. In 2020-21 he sold that non agri. land for a consideration. My question is what will be the COA and holding period in the following situation:- 1. If such land was rural agri.land when it was bought in 2010? 2. If such land was urban agri.land when it was bought in 2010?
Whether indexation will be available or not? If yes then from where indexataion will be allowed?
CAclubindia
