Agriculture land situated near Ahmedabad city AUDA limit i.e.4 km away arialy. Will sale of it attact capital gain? How indexasation calculated? Pl guide?
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Capital gain
Replies (3)
Yes...... within specified limit.......... it is a capital asset....... as calculated like any other asset.... with an additional option for exemption u/s. 54B.
Agree with Dhirajlal Sir, It's Urban Agriculture land so yes it is a capital asset and it's transfer will be just like another Capital asset. If you want the specific rules regarding this then revert back.
Thanks to all for providing guidance.
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