IF I sold N.A. Agricultre land in 150000000/- in Aug'24, and as per valuation report land value in 2001 is Rs. 60000000/- so how much capital gain tax I have to pay ? Also i want to know how much amount i have to deposit in capital gain tax bank account ?
3 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177713 Points)
Replied 25 September 2024
- No LTCG tax liability, provided the valuation of 2001 is as per circle rate.
- No need to deposit any amount in CGAS acc.
Puneet Mittal
(Sr. Officer Accounts)
(212 Points)
Replied 25 September 2024
Agriculture Land situated in rular area is not a capital assets. So capital gain will not arise on sale of above land.
sabyasachi mukherjee
(27574 Points)
Replied 25 September 2024
If there is no capital gaintax then no capital gain arises.
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