en-us https://www.intensedebate.com/users/537908 Comments by rishabh http://www.simpletaxindia.org/2008/05/buy-house-save-capital-gain-on-sale-of.html#IDComment21433296 what i intrepet is.........if i construct 1500sqft house on 1 acre of land......i will get exemption only for 1500sqft of agricultural + cost of house. is this correct. Incase of non agricultural land i shall exemption for the entire land + costruction of house cost. i should ideally sell this house after 3 yrs to get maximum benefit of tax. Thu, 14 May 2009 08:57:57 +0000 http://www.simpletaxindia.org/2008/05/buy-house-save-capital-gain-on-sale-of.html#IDComment21433296 http://www.simpletaxindia.org/2008/05/buy-house-save-capital-gain-on-sale-of.html#IDComment21431459 I have sold my 10 yr old residential house in july 2008. I plan to buy a piece of agricultural land of 1 acres and build a house on it of the same amount of the capital gain. will i be able to claim long term capital gain exemption on buying agricultural land OR I need to buy Non agricultural to be able to claim long term capital gain exemption. i plan to resell this land and house within 3yrs. Thu, 14 May 2009 08:02:16 +0000 http://www.simpletaxindia.org/2008/05/buy-house-save-capital-gain-on-sale-of.html#IDComment21431459