Capital Gains Exemption for purchase of Agricultural Land

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  1. M.Shanmugaramasamy

    M.Shanmugaramasamy New Member

    I want to sell a house property , which was purchased by my father in 1974 and was transferred to me in year 1987 . The house is in corporation area , I made further construction for Rs 800000/- in 2006 . Now I want to sell this property and want to purchase agriculture land property for entire amount . I want to know whether I am eligible for capital gains tax exemption since I am investing in fixed assets . and also I will not sell that land before 3 years
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