My one client has received agricultural land in inheritance in 1970. As on today this agricultural land is sold by him Rs. 1.02 Crore. Agricultural Land is situated in rural area. So can you tell me on sale of this agricultural land capital gain tax is applicable or not? 1% TDS is required to deduct or not?
23 July 2016
you may check reply given at following link, if it covers your problem :- https://www.caclubindia.com/experts/sale-of-rural-agricultural-land-2350284.asp
CAclubindia
