My agricultural land in Haryana has been acquired by the government. I have few taxation questions about this -
Would there be any capital tax gain in this case if I do not purchase any property in lieu of the money received?
It was a land granted to my grandfather when he came from Pakistan. How do i calculate my capital increase on that land for taxation purpose if tax is applicable?
If i wish to purchase some property with the money, can I purchase residential plots anywhere in India in lieu of that money to save capital gain tax (if it is applicable)?
Thanks in advance for reading this post and helping me out solve my queries!