TaxTMI 
TaxTMI 
my capital gain was calculated 70.5 lacs i the assessment year 2007-08.in this regard i have purchased a plot but no development till date. and no investment.
but the is there any way to escape from tax
capital gain tax- Purchase of plot is claimeing of exemption
murugesan anbuchezhian
Capital gain exemption may be unavailable where purchase of an undeveloped plot lacks qualifying reinvestment. Capital gains were assessed and the taxpayer purchased a vacant plot without development, asking if that purchase supports an exemption claim; the respondent replied that no exemption is available, indicating the purchase of an undeveloped plot without qualifying reinvestment was not seen as a basis to avoid capital gains tax. (AI Summary)
