Tax applicability on rural agricultural land sold
ravi kothari (Article Trainee) (97 Points)
30 May 2016ravi kothari (Article Trainee) (97 Points)
30 May 2016
CA Mithil Munot
(Proprietor Mithil P Munot & Co.)
(341 Points)
Replied 31 May 2016
As the asset is not a Capital Asset it is not taxable. So no question of Tax.
subhash kumar jha
(PROFESSION)
(445 Points)
Replied 31 May 2016
no tax on sale of non capitalal assets.
Master GSTR-9 and 9C with India's First Unique Live Course with Live practical training