Tax on Sale of Urban land buy price 10 lac / sale price 12 lac but i re-invest the whole amount of 12 lac in a new Urban land how to calculated Income tax ? If any exemption i get please tell about me......?
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Sell of urban land
Replies (1)
First think you have to calculate long term or short term capital gain
as mentioned whole amt is invested in unrban land therefore you can avail exemption 54B if assessee is individual along with used atleast 2 years for agricultural purpose
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