Query on Agriculture land sold after NA
1.Agreement to sale done on 1/2/2012 Rs. 5lacs receipt through cheque
2.Agriculture land converted to NA 2022
3. Land sold in 2023
Query
a. Valuation of 2001 for cost to done as agriculture land or na land?
b. Stamp value to be taken of 2012 or 2023?
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Capital gain on sale of agriculture land after NA conversation
Replies (3)
1. Agricultural land.
2. Cost of improvement during 2012 to 2023.
3. FMV as of 2023.
First consideration received in 2012 there imo that jantri rate of 2012 must be taken
No. Possession given in 2023.
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