Capital gain

Originally posted by : raja
	Hi Gurus, I purcahsed a vacant plot on 1/5/2005 for 6,50,000(Six lakh fifty thousand only ) and sold it out on 2/8/2011 for 25,00,000(twenty five lakhs only) and i invested the amount in agri land for 26,00,000 (twenty six lakh only ) on 4/8/2011. I wish to make a confiramtion that wheather i must pay capital gain, if suppose to pay capital gain tax how much i should pay. Raja, Thanks in advance.

yes, you need not pay any tax on capital gain.As you have invested in agricultural land. ur 25lakhs will be exempetd.........whether rural agricultural land or urban  agriculturla land................  

Hi,

My Father  would be selling our house (individual residential house we all live together and the house is in my father's name) and he would divde the total amount received as follows:

my Elder Brother:45% Share

me: 45% Share

My Parents: 10% Share

Me and my Elder Brother would invest our 45% share in buying a own house.

Now my questions are:

Is there a capital gain tax that needs be paid by my father?

Is there any tax that we brothers have to pay, but any way we are completely investing our share in buying a new house.

Please advice, Thanks in advance.

Originally posted by : Prakash
	Hi, My Father  would be selling our house (individual residential house we all live together and the house is in my father's name) and he would divde the total amount received as follows: my Elder Brother:45% Share me: 45% Share My Parents: 10% Share Me and my Elder Brother would invest our 45% share in buying a own house. Now my questions are: Is there a capital gain tax that needs be paid by my father? Is there any tax that we brothers have to pay, but any way we are completely investing our share in buying a new house.   Please advice, Thanks in adva

If u hav invested whole amount for purchasing the new house,whole amount of capital gain is exempted from tax.

howevr if u hav  invested 90%, that 10% is taxable as capital gain.