News > Capital Gain tax on agriculture land

Capital Gain tax on agriculture land

Taxguru | 18/11/2022 12:28 PM | Click to read full article

As per Section 45 , Capital Gain include any profits or gains arising from the transfer of a capital assets during the previous year. Definition of capital assets given in Section 2(14) of the Income tax Act, 1961.The Capital Gain arises on transfer of Agriculture Land will be invested within two years of the transfer in purchase of new agriculture land.

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