Capital gain
This query is : Resolved
11 July 2014
Mr. A purchased rural Agricultural Land on 01-05-2013 and sold the same on 01-08-2013 after using it for agricultural activity..
what is the capital gain tax liability?
is there any requirement of Period of holding for Rural agricultural land?
what is the capital gain tax liability?
is there any requirement of Period of holding for Rural agricultural land?
11 July 2014
if its rural agricultural land then no tax is applicable but needs to purchase a new agriclutural land for exemption.
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11 July 2014
but why?? exemption under which section??
sir it is rural agricultural land not covered in capital asset
sir it is rural agricultural land not covered in capital asset
11 July 2014
then no not taxable at all and no need for any such investment...............................
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