Buying a plot
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 December 2010
Hello Expert ,
Is there any way of getting tax exemption if I bye a plot of land ?
Is there any way of getting tax exemption if I bye a plot of land ?
10 December 2010
Hi Anonymous,
There is no Income Tax on buying a plot. However of course you can plan to save your tax at the time of selling the plot of land;
which may be u/s 54EC or 54F provided the plot is a capital asset. However if the same is located in rural area there will not be any tax on transferring the same.
There is no Income Tax on buying a plot. However of course you can plan to save your tax at the time of selling the plot of land;
which may be u/s 54EC or 54F provided the plot is a capital asset. However if the same is located in rural area there will not be any tax on transferring the same.
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