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Incometax

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Guest

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Guest (Querist)
28 July 2012 SALE OF AGRICULTURE LAND WITHIN 1 YEAR IS EXEMPT BEING AGRICULTURE LAND OR TAXABLE. THE LAND IS BEYOND 8 KMS FROM GRAMPANCHAYAT & POULATION IS ALSO BELOW TEN THOUSHAND PLEASE EXPLAIN
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Mohit Naithani

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Mohit Naithani (Expert)
28 July 2012 Sale of Rural agriculture land is not taxable.

Rural agriculture land is excluded from the scope of Capital assets u/s 45.
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Neha Desai

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Neha Desai (Expert)
28 July 2012 Yes, I agree to Mohit's view.


Kind regards,
Neha D.




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