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How can we save tax on selling agricultural land?- Property Hotline
Posted
September 22, 2016
Views
1,118
Likes
3
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September 22, 2016
1,118
3
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1:22Now PlayingExpert: Vinay Singh, Legal & Tax Expert.
Question: I own a property within 8 km of the city's municipal limit. The property is shown as agricultural land in the revenue department. If I sell this property, do I need to buy an agricultural land or non-agricultural land?
Answer: If the population of the city exceeds 10 lakhs, the transfer of this land will be taxable. You can buy an agricultural land within 2 years and save tax.
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