Agri land sale rs 45000/- does it taxable
This query is : Resolved
18 April 2018
Sir.I sold out my agri land around 4 acre for Rs 4500000/- does it taxable? If taxable how to calculate tax in agri land sold?
18 April 2018
if it is agricultural land as per IT act, then there is no taxability
18 April 2018
Depends on whether the agricultural land is a rural agri land or Urban agri land. Sale of Urban agricultural land is taxable. Sale of Rural agricultural land is not considered as "transfer".
The Capital gain computation in case of sale of Urban Agricultural land is done in the same manner as that of any other asset.
The Capital gain computation in case of sale of Urban Agricultural land is done in the same manner as that of any other asset.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITR 2 Short Term gain & Long term gain
- Off Market debit and credit transaction
- Reporting Income under Section 44ADA
- Itr 1 processing
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- ITR returnFY25-26
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Bank Accounts in Balance Sheet for ITR 3
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
