Long term capital gain tax liability

Pradeep SIngh (Article Assistant) (160 Points)

11 October 2013  

I had purchased a land worth Rs. 1,50,000/- + stamp duty of Rs.10,500/- on 27.03.2009 and now i am going to sell it on 30.10.2013 for Rs. 3,50,000/-, there is no any improvement cost. I just want to ask that is there any tax liability for A.Y. 2014-15, i have not any other income except interest on saving accounts of Rs. 2,000/- (which is tax free u/s 80TTA). I dont want to invest in 54EC or 54.