Agricultural land to real estate

chaitu..... (Querist) 01 June 2013 This query is : Resolved
hi Sir, in 2006 the agricultural land bought for Rs.6 lakhs, and now we turned that land into plots by all converting fees and other legally done now it is Rs.3000 per yard. so in what type i should pay the tax.? plz help

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ajay sethi (Expert) 01 June 2013
you have converted land into NA land.you will have to pay taxes as per assessment made

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