22 April 2013
I have purchased an Agricultural Land in the year 2011 and it is situated in a village. Now i want to sell the property. Shall I have to pay the Capital Gains Tax ? Whether Agricultural Land are exempted from Short Term Capital Gains ? please clarify me in this regard
24 April 2013
If that land falls out side specified area then no capital gain to be paid. Just check is there any cantonment board like BMC in that village or panchayat looks after it.
CAclubindia
