Hi,
I have purchased the Land with out any loan in this year (11-12) for the value of 100000 sales Deed. Can i Know is there any possiblity to decrese / impact the IT ?
Thank you.
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Land purchase will affect the income tax
Replies (1)
If u had made an investment then it cannot help u to reduce ur tax liability....
But if u have purchased as an stock in trade , as ur business then it can help u to reduce ur tax liabitly by way of reducing income or setting off of loss of this business with other non speculative business...
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