Please Help: Capital Gain on sale of Agri.Land
Posted Date : 05-Nov-2014 , 09:04:56 am | Posted By: SHARAD NALAWADE
Category :
Income Tax | Answers :
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Comments :
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Agreement to sale was made of Agri.Land and it bears a condition that Purchaser will conduct procedure of Non Agri.Seller has to assist and sign application for Non Agri.Part of Consideration received at the time of Agreement to Sale.After N.A.Sale deed will be complete is another clause of Agreement.Sale deed executed as per clauses of Agreement.Whether Seller is liable to taxed for Capital Gain as Sale Deed is of Non Agri.Land |
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| Posted By : Sapan Dalal |
10-Nov-2014, 09:02:21 |
| Since agreement to sale is deemed sale...so there is a transfer..but transfer is of agriculture land..exempt from tax... |
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| Posted By : ATIT D. SHAH |
05-Nov-2014, 05:30:23 |
| Well in this case i feel sale deed will mention that sale is of N A Land, if yes than will be taxable as N A Land |
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