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about sale of land
sir,there is exemption available related to sale of land
Replies (7)
Yes, provided Long term capital gain ....... for which you need to invest in capital gains bonds (sec 54EC) or a residential house property. (sec. 54F)........ to claim exemption over LTCG
land received from ancentral should be taxed ???
Not at the time of receipt of the property...... but tax liability arises on its trasfer/sale....
timing of capital gain from when count when we receive or when our ancentral purchase....
When original owner purchased the property.......... but if it is older then 2000-01; FMV as on 01.04.2001 is considered.
how is calculated fmv as on 2000-01
From Government Approved Valuers .....
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