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Sale of Pacca house with agriculture land.
I sold my agriculture land in F.Y 18-19 which is outside NAC and my Pacca house built on it. I used the house for residential purpose. Will I have to pay any capital gain tax?
Replies (2)
Depends upon the deed of transfer. If the valuation of the house property marked separately, CG liability will arise.
Agricultural land cannot be used for residential purposes. You cannot construct a house on agricultural land to live in, although the land may be owned by you
To mention pacca house in the agreement will have impact on Agri Land status
To mention pacca house in the agreement will have impact on Agri Land status
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