banner_ad

Agricultural land

This query is : Resolved 
Profile Image

Profile Image

(Querist)
23 September 2013 A company is having an agricultural land for the last 15 years and agricultural activities are conducted on it for last so many years. Now the company wishes to sell the land. Would there be any capital gain tax on it? The area where the land is situated has a population less than 10000 but it falls under Municipal Corporation limits. Please give valuable opinions.
Profile Image

CA Pallav Singhania

Profile Image

CA Pallav Singhania (Expert)
23 September 2013 It's an urban agriculture land, and transfer of such land attracts capital gain,

Yes, there will be a capital gain,

And you can not claim exemption U/S 54B, 54F or 54EC.. Its for Individual and for HUF..
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
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

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

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details