12.5% premium cidco scheme

Querist : Anonymous (Querist) 03 May 2010 This query is : Resolved
Is transfer of plot of land alloted to one under 12.5% premium cidco scheme exempt from capital gains tax

Follow Query

Report Abuse

AMIT BAJAJ ADVOCATE (Expert) 03 May 2010
Plz explain more on the cidco scheme what it is?

Allthough I havent read about any such exemption under the Income Tax Act where capital gain from sale of a property is exempt merely because it is purchased in some scheme.

Vineet (Expert) 04 May 2010
Please provide complete details of the scheme. No exemption from capital gains tax is available unless the same is specifically provided under the Act or by some notification.