Agricultural land
This query is : Resolved
26 June 2013
is agricultural land profit is exempted other than in sec 10(37)???
26 June 2013
Not necessarily exempt.
.
Exempt only when the agriculture land is situated in the rural area.
.
.
Exempt only when the agriculture land is situated in the rural area.
.
26 June 2013
under which section & under which circumstances agricultural land is situated in rural areas is exempt? Plz sir guide me
26 June 2013
Please refer Section 2(14)(iii).
Also refer Section 2(47)
.
Logic behind the same, in short is, since rural agriculture land is not a capital asset, it is not covered by the definition of transfer and for the accrual of capital gains transfer of a capital asset is an essential condition.
.
Also refer Section 2(47)
.
Logic behind the same, in short is, since rural agriculture land is not a capital asset, it is not covered by the definition of transfer and for the accrual of capital gains transfer of a capital asset is an essential condition.
.
26 June 2013
also refer notification no.9447 dated jan 06 1994 for list urban areas specified
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
- Is any professional CA is here please reply
- Reopen of assessment proceeding
- Rental income gst and it purpose
- EPF FULL & FINAL RULES IN 2026
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Putting a heading on received mail
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
