Dear Experts,
Your valuable answer to the given below details is highly welcomed to know my Capital Gain tax liability.
Purchasing cost of Land (Not Agricultural) Rs.20,000.
Date of Purchase of land as per document 19.09.1994
The above land was acquisitioned by the Government of Puducherry on 23.11.2020.
The compensation of Rs.24,91,071 paid by the Government for the said land u/s 28A of land acquisition Act, 1894.
On 18.01.2021 I purchased a building worth Rs.27,00,000 by utilizing the amount of compensation paid by the Government and investing an additional investment of Rs.4,00,000 from Savings.
Yours detailed workings of the tax liability would be highly appreciable.
CAclubindia
