Agriculture land situated near Ahmedabad city AUDA limit i.e.4 km away arialy. Will sale of it attact capital gain? How indexasation calculated? Pl guide?
3 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177741 Points)
Replied 16 July 2017
Yes...... within specified limit.......... it is a capital asset....... as calculated like any other asset.... with an additional option for exemption u/s. 54B.
Karan Batra
(Creator: TheProTalks)
(2325 Points)
Replied 16 July 2017
Agree with Dhirajlal Sir, It's Urban Agriculture land so yes it is a capital asset and it's transfer will be just like another Capital asset. If you want the specific rules regarding this then revert back.
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