Respected Sir/Madam, could you please tell me?
Q1, Mr ABC Ltd, a partnership firm, paid Rs 3cr for land under its firm name in FY 2025, and it later sold the land for Rs 5cr. 2 cr long-term capital gain is the difference.
* What is the applicable LTCG tax rate? 12.5% or 30%
* Can we reinvest our 2 cr in LTCG income in another piece of land to save taxes or something?,
How can you justify the gain/profit was long term GAIN?
Date of Purchase and Date of Sale are required
assuming asset was held more than three years, the Q.1 what will be tax rate & Q.2 can it be reinvested in land to claim exemption
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