(Querist) 05 May 2011
This query is : Resolved
i had made agreement for purchase a agriculture land before 3 years.Till date i had not made it registered in registrar office. Now i want to sell this land to a new party .What will be my tax liability. Whether Long term capital gain as i retained the property for more than 3 years.
Can i get any exemption u/s 54 i,e if i reinvest this sale proceed in other agriculture land or immovable property shall i get any relief or exemption.