Demerger company sale in his agri land in portial, Capital gain details?

[Padmanaban K]

Company demerge in March 2015, and April 2016 the company sale in portion of Agri land. What in capital gain and further auction by income tax?

AI Summary

Capital Gains Implications on Demerged Company's Sale of Agricultural Land: Acquisition Date and Rural Area Exemption Explained A company underwent demerger in March 2015 and sold a portion of agricultural land in April 2016. The query concerns the capital gains implications of this transaction. One response clarifies that the acquisition date is the purchase date of the demerged company, determining whether the gain is short-term or long-term. Another response notes that if the agricultural land is in a rural area, short-term capital gains are exempt from taxation.