Is it a right time to buy agriculture land after demonitisation

We paid 50k  advance to buy one acre of land for 21 lakhs after the demonetisation. We can pay the rest in white as me and my brother are salaried employees. Is it a right time to buy land at this time. Also please let us know how much tax we need to pay in the current scenario?

Land is in rural part of Andhra pradesh.
Goverment rate is around 8 lakhs.
Before demonetisation payments were made in cash.
Asked 23 days ago in Capital Gains Tax from Hyderabad, Andhra Pradesh
Hiii....

1. in coming time properties fall down thus please think before buying.
2. no tax required to pay at the time of purchase only registration fee lavy but you must have source of income form which you are paying this amount.
Lalit Bansal
CA, New Delhi
73 Answers
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on 21 Laksh because you pay entire amount via banking channel and there is no cash market.
Lalit Bansal
CA, New Delhi
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Dear Sir,

what kind of advice you need? Many experts are saying that prices of property will go down. Registration fee should be calculated on the transaction price.

Thanks and Regards
Abhishek Dugar
CA CS B.Com
Abhishek Dugar
CA, Mumbai
766 Answers
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Dear Sir,

if you have white money you can purchase the agricultural land.
Yo will not have to pay tax on purchase of agricultural land.
The amount  of stamp duty will have to be paid on 21 lakhs.
Now you cannot pay the balance amount in Rs. 500 and 1000 rupees denominated currency because the same is not legal.

There is probability of fall in price of Land.
Shiv Kumar Agarwal
CA, Delhi
195 Answers
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It is right time depending on the area where you are purchasing.

Yes the rates of land will fall in short term but in long term it will increase.
Shyam Sunder Modani
CA, Hyderabad
955 Answers
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The registration will be calculated on 21 Lakhs
Shyam Sunder Modani
CA, Hyderabad
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Not an expert in commenting as to when is the right time to invest in agri land.
Rohit R Sharma
CA, Mumbai
719 Answers
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