1.if agricultural land,no capital gains tax due.
2.for selling non-agricultural land before three years,short term capital gains tax.
3.for selling non-agricultural land after three years ,long term capital gains tax due @20 %, unless
(a) residential property(not land) is purchased one year before or two years after date of sale,
(b) house constructed within 3 years of sale,
(c) Bonds bought within 6 months,
4.Capital gains tax calculated after indexation
5.No compulsion of FY,date of sale & buy is considered
Open Capital gains account in any public bank if amount not used within 6 months
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