Capital Gains on sale of a Pond

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  1. DHIRENDRA GOUDA

    DHIRENDRA GOUDA New Member

    1. Location of the pond Village - Bahora, Sub-Division Kalna,Dist-Burdwan. Area - 0.54 acre .
    2. Present holders- holding for seventy(70) years after death of father (1945). father inherited from his father about hundred (100) years ago probably by inheritance so cost of acquisition is unknown.
    3. No major improvementof the pond has been done, any time.
    4. Assessed foe registration purpose Rs. five lakhs.


    How the capital gain tax in this above case be calculated.

    5. Is their any minimum amount for which capital gains tax is not applicable?
     
  2. Anish Goel

    Anish Goel New Member

    The cost of acquisition of the pond shall be taken as on 1.4.1981.
    You can avail threshold exemption limit of upto Rs. 250000 to the extent your annual income is lower than that limit.
    Moreover you can invest the capital gains in a house, NHAI bonds to avoid tax
     
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