06 January 2016
Dear Sir, humne 22/1/2004 ko ek agriculture land 25000 me purchased kiya tha jisper 2500 ki brokrage di thi other exps 5000 k huve the.15/3/2015 ko hum property 1000000 m sale kar rhe hai jis pr 10000 ki brokrege dege.pls suggest saving capital gain. humare naam pr koi house property nhi hai.but or agricultur land hai
06 January 2016
if you are selling rural agriculture land - then no taxes if you are selling urban agriculture land - then you have pay taxes.
You can reduce the taxes by obtaining 54EC bonds upto Rs.50 Lakhs. You can also buy residential house or construct one to claim deduction under section 54F
CAclubindia
