Query on sale

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Associate
151 Points Posted on 25 September 2021
If I sale a flat for Rs.42 lac and purchase an agricultural land,what will be capital gains tax?
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On 25 September 2021 at 20:52 Report
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Quick Summary
This discussion clarifies capital gains tax when selling a flat for Rs.42 lac and purchasing agricultural land. It's highlighted that simply buying agricultural land doesn't exempt you from capital gains tax. To avail tax benefits, a residential house must also be constructed on the land.

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SEO Sai Gr. Hosp.
212503 Points Posted on 25 September 2021

No capital gain tax saving when you purchase just agricultural land. Unless you also construct a residential house on it.

1 Reply
On 25 September 2021 at 21:02
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Chartered Accountant
24588 Points Posted on 26 September 2021
Agree with above
1 Reply
On 26 September 2021 at 06:00
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Associate
151 Points Posted on 26 September 2021
Thank you both of you
1 Reply
On 26 September 2021 at 08:55
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Chartered Accountant
24588 Points Posted on 27 September 2021
Your welcome
1 Reply
On 27 September 2021 at 06:12

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