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syed (ec)     27 January 2011

how to invest money got from ancestral property i

Hello All,

i got  a share by selling my grandpa`s agricultural land which does not attract capital gain since this is not a capital asset. but the main thing is that  i got a dd from purchaser and i had submitted in bank in my savings bank account now i want to buy a land for myself from that money for that how i buy the land.. how should i tell the IT department that the money in my account does not attract capital gain ad it came after selling my grandpa property as my share.. Please help me thank u



Learning

 2 Replies

CA SANDEEP BANSAL (PARTNER)     28 January 2011

u can do so dear without any hesitation ............as u can explain the IT departmnt by showing he sale deed .. 

1 Like

R.venkatesh Naidu (.)     28 January 2011

best you approach any IT practioner


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