banner_ad

Agrculture land acaquisition by govt and capital gain

This query is : Resolved 
Profile Image

Profile Image

(Querist)
14 September 2013 my client has purchased agriculture land from a farmer one year ago which has been acaquired by govt. whether capita tax is chargable on this land .
Profile Image

CA Pallav Singhania

Profile Image

CA Pallav Singhania (Expert)
14 September 2013 No Capital gain Tax on transfer of Agriculture land...

However, such land is an agriculture land and its income subjected to income from agriculture only..
Profile Image

altaf sachora

Profile Image

altaf sachora (Querist)
14 September 2013 but assessee has purchased this land from a farmer just a year ago. assessee is also farmer. in sec 10(37) exemption is for person who is farming for 2 years . is it so?
Profile Image

CA Pallav Singhania

Profile Image

CA Pallav Singhania (Expert)
14 September 2013 Rural Agricultural Land isn't a capital asset..

Land must be rural agricultural land according to IT rules..

Is exempt for Capital gain tax whether short or long term..
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details