I am selling my share in the joint agricultural property inherited from parents, having 4 more heirs.what is the capital gains tax I am liable to pay,if property is in village Panchayat area.
liable to pay, property is in village Panchayat area.
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Capital gain tax
Replies (8)
it depends on the population of that area ... ti qualify for capital assets.. you may refer section 2(14) for further clarification.
As per Act its not taxable. So no CG
No capital gain tax based on the given information
capital gain onagricultural land in urban area is exempt
no capital gain on agriculture land situated in rural area
sorry it is rural area instead of urban area
No liability ( Sale of agricultural land in Rural area is fully exempted )
Please check the criteria of cultivation for past 2 years
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