is ltcg applicable on gain received by
sale of agriculture land. detail plz
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Is long term capital gain applicable on Aggr Land
Replies (4)
Yes. On sale of agr.land cap gain is applicable. Fir saving capital gains purchase another agr land u/s 54 b. Or deposit money in capital gains scheme before filling return
Agricultural land in Rural Area in India is not considered a capital asset. Therefore any gains from its sale are not taxable under the head Capital Gains. ...
Under Section 10(37) of the Income Tax Act, Capital Gains on compensation received on compulsory acquisition of urban agricultural land is exempt from tax.
Under Section 10(37) of the Income Tax Act, Capital Gains on compensation received on compulsory acquisition of urban agricultural land is exempt from tax.
I quote Raja P M
time limit for purchase another agriculture land or invest in capital gain bond
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