we have a land purchased 20 years ago and it comes under panchayat limit. we would like to sale this land. long term capital gain tax is applicable on this transaction.
Menu
Capital gain tax
Replies (1)
You have not specified whether it is an agricultural land or other. If it is an agri land it will be a capital asset if it falls under the following:
1. Situated within a distance of 2 kms measured arially from the local limits of nearest municipality, board, corporation, council by whatever name called in case population of nearest municipality does not exceeed 1 lac.
2. Situated within a distance of 6 kms measured arially from the local limits of neares municipality in case population of nearest municipality is between 1 lac to 10 lac.
3. Situated within a distance of 8 kms measured arially from the local limit of nearest municipality in case population of nearest municipality is more than 10 lac.
Recent Topic
- Proprietor have 2 business. One is registered unde
- ITR-4 – Gross Receipts or Turnover for Secti
- Unrelated entries in AIS and Form 26as
- Payment to foreign national
- Internal reconstuction
- IDS Refund – Annexure B & GSTR-3B Match,
- Can i should STCG and LTCG as business income ?
- Capital contribution in Firm
- Form 3CD – Clause 20(b) | ESI Contribution &
- Capital Gains on Dissolution of Partnership
Related Topics
CAclubindia
