Your Taxes
I want to sell my ancestral land that was acquired by my father before 1981 and was transferred to my name in 1992. I have converted the agricultural land to non-agricultural land in 2010.The approximate value of land is ₹55 lakh. How will this transaction be taxed? Will I get indexation benefit?Sandesh BraveAny capital asset held for more than two years is categorised as long-term asset. For this...
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