Capital gains or pgbp

This query is : Resolved

govindreddy (Querist)
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18 December 2018 I want to change rural agriculture land into plots.the fair market value of Agricultural land is so low when compare to the FMV of Plots. for CG Calculation can we consider the FMV of Agricultural land and for PGBP we can consider the FMV of plot. how to treat the tax calculation which was beneficial to the Assesses.

Thanks in advance.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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18 December 2018 no, you cannot that. once you change the nature of the land to non-agriculture, you gotta use the non-agricultural value of the plots.

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