TaxTMI 
TaxTMI 
i wanted to know what type of improvements (cost of improvement) can be deducted in case of long term capital gains on sale of urban agricultural land. any sugestions ,please.
types of improvement on agricultural land.
07 Mar 2011 
2 Replies 
2317 Views Asked by
Cost of improvement deductions for urban agricultural land sales may include excavation, levelling, filling and boundary walls.
Whether expenditures on physical enhancements to agricultural land qualify as deductible cost of improvement against long term capital gains on sale of urban agricultural land. Examples include excavation, levelling, filling and construction of boundary walls. The query also asks whether sale of a developed orchard with fruit bearing plants in an urban area permits additional deductions beyond identified land improvement costs. (AI Summary)
Whether expenditures on physical enhancements to agricultural land qualify as deductible cost of improvement against long term capital gains on sale of urban agricultural land. Examples include excavation, levelling, filling and construction of boundary walls. The query also asks whether sale of a developed orchard with fruit bearing plants in an urban area permits additional deductions beyond identified land improvement costs. (AI Summary)