If amount not invested in capital gain account but house purchased wit – InterviewSolution

1.	If amount not invested in capital gain account but house purchased within two years then what is the tax exemption
Answer» Land is a Capital Asset and and as an appreciated asset, a landowner can make huge capital GAINS on its sale. HOWEVER, agricultural land in a rural area in India is not considered a Capital Asset. So, no capital gains are APPLICABLE on its sale. Before we find out how your capital gains SHALL be taxed, do make sure Income Tax considers your asset to be a capital asset.Hope this will help you

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