dear Sir,
i have purchased Agricultural land near Nashik at Sinnar in Aug. 2008. if i sale it now whta will be current year index? 2. I will get indexation benefit? 3. To save on LTCG how much & where ti invest?
thanks & regards
ashok
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Capital gain payable on agricultural land
Replies (1)
Is Sinnar a rural area??
If yes, then there would be no capital gains tax.
If no, then you can invest the proceeds in a new house property or in a new agricultural land in a rural area to get exemption benefits u/s 54. Also investment in 54EC bonds can save tax as well.
Regards
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