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Big Byte: Capital gains tax relief for land pooling to build Amaravati - Budget 2017 - ABN

Wed, Feb 01, 2017, 03:38 PM
Union Finance Minister Arun Jaitley has announced that the Andhra Pradesh farmers, who surrendered their land to the government for its upcoming capital city Amaravati will not have to pay capital gains tax. The Finance Minister said in his budget speech on Wednesday that the farmers who held land on 2 June 2014 and sold it to the government, when Andhra Pradesh was bifurcated to carve out Telangana, will benefit from the tax waiver. The Minister added that Capital gains tax to be exempted, for persons whose land was pooled for the creation of state capital of Andhra Pradesh.
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