capital gain tax

Shilpa Rani (Querist) 06 December 2008 This query is : Resolved
what is capital gain tax
if i buy property from others will it apply to this case
when we need to pay this tax and how much ..please explain

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Adv.Shine Thomas (Expert) 06 December 2008
Please mention the type of property.

Shilpa Rani (Querist) 07 December 2008
type of property is agricultural land

Manish Singh (Expert) 08 December 2008
if you sell it off within a year, you will have to pay short term capital gains tax otherwise longterm.

Manish Singh (Expert) 10 December 2008
no capital gain tax is there if its an agricultural land

Adv.Shine Thomas (Expert) 22 January 2009
The above view is correct

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