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Purchase and sale agreeculture land

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 April 2012 sir
maine june 2011 mein 2500000.00 ki agricultur land purchase ki thi. march 2012 mein 3500000.00 ki sale kar di .mujhe capital gain tax deposit karana hoga ya nahi .
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CA Prashant Gupta

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CA Prashant Gupta (Expert)
01 April 2012 If it is agriculture land situated beyond 8 km from municipal limit and then it is not taxable as it is not a capital asset.

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