MR .A LAND ENHANCED BY GOVT. RS.15,00,000/- WITH TDS RS.150000/-, OF NATIONAL HIG VAY PURPOSE. AS ON 2016 MR A PUR .AS ON 2009 RS.100000/-
1) HIS COVER UNDER CAPITAL GAIN?
2)CAPITLA GAIN WORKING METHODS.
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Capital gain
Replies (5)
1. Yes (unless vide section 96 of the RFCTLARR Act)
2. 272/148*1.......... 1,83,700 the indexed cost as for FY 2017-18.
Appx. 13,16,300/- LTCG
But it is compulsory acquisition
sir isn't it exempt only when it is an urban agricultural land on which assess has been practising agriculture for past 2 years
@ Karan: For Urban agricultural land or any non-agricultural land...... the compulsory aquisition under 'REFTLARR' act, 2013....... aquisition effective from 01.01.2014; will be tax-exempt. But the applicability should be checked from the documents....
@ Dhirajlal: Sir thanks for your instant reply.
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