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Sale of agri land

(Querist) 28 August 2014 This query is : Resolved 
Sir, my grandpa purchased jointly 8 arces Agri land 1981 and got dissolved by getting 2.2 acres in 1994 in Bangalore rural. My father got transfered that property to his sons name by gift deed 2012. His are selling that Agri land. They stay in Salem, tamilnadu and they wanted to buy land in tamilnadu. Does they have to pay capital gain tax or directly re invest in land or Agri land. Pls guide us
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malipeddi jaggarao (Expert) 29 August 2014
I could not understand the query.
Rajendra K Goyal (Expert) 29 August 2014
Consult your CA. Capital gains earned from sale of Agr. Land is tax free under certain conditions.
T. Kalaiselvan, Advocate (Expert) 31 August 2014
Your tax consultant/auditor will be having a better answer to your query, approach him/her.

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