If Rural agricultural land is purchased out of the proceeds of capital gain from sale of urban agricultural land, there will be no capital gain even if such rural agricultural land is sold within a period of 3 years from the date of it’s acquisition. There will be no effect on the capital gain as well which was exempt earlier.
Rural agricultural land, Tax filing, Income tax return Explained tax liability if new rural agricultural land is sold.
Comments
0 comments
Please sign in to leave a comment.