Dear,
If profit on sale of rural agriculture land then where to show such figure in ITR . and only profit I need to show or gross amount I need to disclose in ITR.
bhagwat Indore (CA Practice ) (60 Points)
19 July 2017
CA Rashmi Gandhi
(Chartered Accountant)
(86285 Points)
Replied 19 July 2017
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160886 Points)
Replied 19 July 2017
Gains from sale of RURAL agricultural land can be shown in Schedule 'EI' 'Exempt Income'
Hiren Patel
(Chartered Accountant)
(91 Points)
Replied 22 July 2018
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160886 Points)
Replied 22 July 2018
File ITR, pay legitimate tax, and claim additional amount of TDS deducted as refund....
Hiren Patel
(Chartered Accountant)
(91 Points)
Replied 22 July 2018
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160886 Points)
Replied 22 July 2018
Depends upon other income/s.
But if no business related activity...... File ITR 2.
Hiren Patel
(Chartered Accountant)
(91 Points)
Replied 22 July 2018
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160886 Points)
Replied 22 July 2018
If sale value is below 50 Lakhs, file ITR1.... otherwise file ITR2..
Good Luck ......
CAclubindia
