Sale of land
This query is : Resolved
01 March 2012
will sale of land attract capital gain tax?
01 March 2012
Yes, if it is NA land.
In case of Agriculture land you need to satisfy the conditions laid down in Income Tax Act, 1961, otherwise the gains are taxable.
However, you can also save the tax, by investing the gain amount into specified bonds.
With regards,
CA Prasad Modak
In case of Agriculture land you need to satisfy the conditions laid down in Income Tax Act, 1961, otherwise the gains are taxable.
However, you can also save the tax, by investing the gain amount into specified bonds.
With regards,
CA Prasad Modak
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