My father owns an agricultural land which he purchased for INR 25,000 17 years ago. Some miners are interested in this land due to the presence of some ores. So, if I sell it for 50 lacs will I have to pay capital gains tax? If yes, how much?
Answered on November 08, 2017
Question is vague, as it does not say whether you or your father desires to sell the plot. It would infact depend on when you got the property from your father.
