agricultral income
This query is : Resolved
25 September 2010
one of my friend had planted an eucalyptus plants in his agricultural land and know he sale the plants for 1200000/-. Can i treat this income as agricultural income?
CA Navin Jain
(Expert)
25 September 2010
ITS EXEMPT UNDER THE HEAD OF CAPITAL GAIN
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CA. Praveen Narayan
(Expert)
25 September 2010
The receipt arising from the sale of tree itself is considered a capital receipt which is not income..
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26 September 2010
is sale of trees in the agricultural land can be treated as capital gain?
Or agricultural income ? If it treated as capital receipt in which section it will be claimed as exemption?
Or agricultural income ? If it treated as capital receipt in which section it will be claimed as exemption?
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