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
01 Jan 2015 
1 Reply 
1452 Views Asked by
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)
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)
