Long term Capital Gain

This query is : Resolved 

02 October 2017 How long term capital gain obtained from agricultural land of Rs 1.60 crore be invested in INDIA??

02 October 2017 It is rural or urban land...

02 October 2017 Not covered in so called nagar palika aur nagar nigam...


02 October 2017 Then same is exempted. & you can invest it in some property or bonds or mutual funds..

02 October 2017 Also you can invest in shares if you have knowledge abt it.

02 October 2017 Yes exavtly that i want to know...how is it possible to invest whole amount in govt bonds ??
Can we buy one or more property from the amount??

02 October 2017 Yes you can buy more than one property also...

02 October 2017 Sorry we dont go for shares n mutual fund risk


02 October 2017 and if seller already have two or

02 October 2017 and if seller already have two or more property or house in their name then is it eligible for invest in property??

02 October 2017 Then also he can purchase.

02 October 2017 please be specific about property ...means to plot, residential flat aur construction project


02 October 2017 You can purchase any one which you want to invest

02 October 2017 okk..thank you so much

02 October 2017 Welcome .......


03 October 2017 @gaurav the criteria to check whether a particular agriculture land is Rural or not are as follows: 1. 2 kms from municipality/cantonment board having population of more than 10000 but less than 100000 2. 2 kms from municipality/cantonment board having population of more than 100000 but less than 100000

03 October 2017 2. 6 kms from municipality/cantonment board having population of more than 10000 but less than 1000000. 3. 8 kms from municipality/cantonment board having population of more than 1000000

03 October 2017 yes we sell our agricultural land which is more than 9 km from municipality having population moe than 1000000

03 October 2017 you can utilise the sale proceeds the way you wish, since there is no any question of capital gain.

03 October 2017 Sorry Anmol Sir, i posted it wrong...it is within the limit of 8 kms and not considered in rural area

03 October 2017 then you can opt for 54F

03 October 2017 ok thank you Sir, but it is limitation that maximum 50 lakhs can be used for Govt Bonds then how can we utilise remaining amount approx 1.5 crore

03 October 2017 that is 54EC; you are talking about.....
you can buy house subject to conditions as set out in section 54F

03 October 2017 also check if you can satisfy the conditions as set out in section 54B



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