Rural Agricultural land Sale

Sir, As mentioned in above cited subject, I had purchased a piece of Agricultural land for Rs.2,10,000/- and sold it after 6 months as a Agricultural Land for Rs.18 Lac's. So, will it attract STCG and if it's then how much I have to pay?? Also clarify that one of my friend said to me that as it is falls in rural area it won't be liable for capital gain?? Thanks in Advance..

asked Mar 11 '13 at 20:40 by Aditya Patil 111


If land falls under rural area and is also not within eight kilometer area of a municipal committee/corporation, then its not considered as a capital asset. In that case there won't be any short or long term capital gains applicable.

answered Mar 13 '13 at 11:40 by Pankaj Batra 5.2k320

link

Know someone who can answer? Share a link to this question via Email, Twitter, or Facebook

Your answer
toggle preview

Follow this question

Once you sign in you will be able to subscribe for any updates here

Markdown Basics

  • *italic* or __italic__
  • **bold** or __bold__
  • link:[text](http://url.com/ "title")
  • image?![alt text](/path/img.jpg "title")
  • numbered list: 1. Foo 2. Bar
  • to add a line break simply add two spaces to where you would like the new line to be.
  • basic HTML tags are also supported

Tags:

×342
×23
×21
×6

Asked: Mar 11 '13 at 20:40

Seen: 2,159 times

Last updated: Mar 13 '13 at 11:41