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Agriculte land sale by plotting

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(Querist)
02 February 2022 Hello friends..
I have query releated to section 45(2) .. If I have agriculture land and I sell it by individual Residential plots after converting to n.a
.. how would LTCG and business profit would be calculate and can we save it by investing in bonds
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
02 February 2022 COA will be your purchase cost.
COI will be NA charges & fees..
Yes, investment in sec. 54EC bonds can save LTCG.
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furkan naviwala

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furkan naviwala (Querist)
02 February 2022 Sir property was acquired before 2001.. na done in 2021.. so total tax would be calculated 8n 2 steps.. LTCG n business profit???
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
02 February 2022 Only change to above .... COA would be circle rate of the land as on 01.04.2001.
If no construction made, the gains will be LTCG.

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