Purchase of Plot, Sale of Plot - Cap Gain Exemption allowed?

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  1. ASHISH KUMAR JAIN

    ASHISH KUMAR JAIN New Member

    CAN I SAVE CAPITAL GAIN SALE ON LAND PLOT BY PURCHASE ANOTHER LAND PLOT
     
  2. Divya Mehta

    Divya Mehta Member

    No, you cannot claim Cap Gains Exemption for purchase of plot.

    In the above mentioned case, you can claim cap gains exemption under Section 54F only if the asset purchased is a residential house and not a residential plot.
     
  3. ASHISH KUMAR JAIN

    ASHISH KUMAR JAIN New Member

    THANKS A LOTS
    IF I SALE AGRICULTURE LAND IN RURAL AREA

    IS THAT COMPULSORY TO REINVEST MONEY OF SALE AMOUNT?
     
  4. Yatin Gandhi

    Yatin Gandhi Active Member

    No Tax is levied on the gains arising on the sale of agricultural land in a rural area.

    As the gains are exempted, therefore you are not required to reinvest the proceeds
     
  5. ASHISH KUMAR JAIN

    ASHISH KUMAR JAIN New Member

    THA
    THANKS
     
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