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Sale of Pacca house with agriculture land.

05 September 2019

I sold my agriculture land in F.Y 18-19 which is outside NAC and my Pacca house built on it. I used the house for residential purpose. Will I have to pay any capital gain tax?

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2 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (185323 Points)
Replied 05 September 2019

Depends upon the deed of transfer. If the valuation of the house property marked separately, CG liability will arise.

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Kapadia Pravin (17264 Points)
Replied 05 September 2019

Agricultural land cannot be used for residential purposes. You cannot construct a house on agricultural land to live in, although the land may be owned by you

To mention pacca house in the agreement will have impact on Agri Land status