Mr.N and brothers purchased in common agriculture land in1975 and in 2014 they had partitioned the property as per registered deed.Two brothers 14.07.2021 sold their 3.36 acres( per acre 36,85,000.00)of land in one document and recived each.Want Capital Gain tax liability..
Please guide me
2012 partitioned document 1646/2012 dt.21.02.2012.
I hope the Aquiered value of each share of R N and R P,
Rs.10,09,980.00+ other registration and development Expenses.. please arrive C G Tax liability of individuals
First of all we have to verify that the document made for Agriculture land or commercial land.
if Agriculture land then it's not a capital asset.
so no question of capital gains.
if the sale deed is for commercial land then capital gains can be calculated.
CAclubindia
