Capital gains tax exemption to benefit over 24,000 farmers in Amaravati

Exemption is given to those who had contributed to land pooling for the Amaravati construction

More than 24,000 farmers in Krishna and Guntur districts will benefit from capital gains tax exemption announced on Wednesday by Union Finance Minister Arun Jaitley in Budget 2017.

The exemption is given to those who had contributed to land pooling for the sake of Andhra Pradesh's new capital construction, Amaravati.

Last year, the state government had acquired close to 34,000 acres of land under the land pooling scheme from land owners across 29 villages in the two districts with a promise to give them back the developed housing and commercial plots within the core capital area.

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