Exemption from Capital Gains - transfer of land under the Land Pooling Scheme covered under the Andhra Pradesh Capital City Land Pooling Scheme (Formulation and Implementation) Rules, 2015 - Budget 2017-18 w.e.f. AY 2015-16 (Retrospective)
2 February, 2017
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Exemption from capital gains for transfer of land under specified land pooling scheme, applied retrospectively to relevant assessment years. A new exemption excludes from total income capital gains arising to an individual or Hindu undivided family on transfer of land under the Andhra Pradesh ... Summary
Exemption from capital gains for transfer of land under specified land pooling scheme, applied retrospectively to relevant assessment years.
A new exemption excludes from total income capital gains arising to an individual or Hindu undivided family on transfer of land under the Andhra Pradesh Capital City Land Pooling Scheme, provided the assessee was the owner of the specified capital asset as of the statutory cut-off date; the amendment clarifies the term "specified capital asset" and applies retrospectively to the relevant assessment years.
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