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Capital gain calculation

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vaibhav

student

151 Points Posted on 11 November 2020

respected sir,

My grand father had land in Usmanabad Maharashtra long ago the same got transferred to me from time to time. I have no valuation paper of the said land & last year the land got acquired by govt. Now my question is how shall i compute capital gains of the same. The govt dept has deducted TDS us 194A (10%) on the consideration. Kindly help me to get the refund of the same as i have already invested the sale consideration in buying residential flat.

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Quick Summary

This discussion addresses how to calculate capital gains tax when land, inherited over time, is acquired by the government. The user needs assistance with the calculation as they lack original valuation papers. They also inquire about TDS deduction and potential refunds, especially after reinvesting the sale proceeds into a residential property. A key point raised is whether agricultural land in a rural area is subject to capital gains tax.