Live Course on Drafting of Appeal and Reply of Penalty Notice by CA Sachin Sinha. Register Now!!

capital gain from sale of agricultural land

harsha (1) (25 Points)

21 August 2019

where we have to show the gain from sale of agricultural land in ITR.

Reply
Follow
Share

4 Replies

Kapadia Pravin (17249 Points)
Replied 21 August 2019

Taxability of Agri land depends upon location of the land how much kms away from municipal limits and other conditions.
if taxable then under CG schedule
if exempt then under EI schedule.

Kalyani (Chartered Accountant) (181 Points)
Replied 22 August 2019

Where is that agricultural land situated? In Rural area/Urban area?

harsha (1) (25 Points)
Replied 22 August 2019

thanks for the reply.
it is rural agricultural land only.
in itr 3 under which line item we have to show the gain from sale of rural agricultural land.