Agriculture land puchases
This query is : Resolved
14 May 2019
I had an agricultural land which was my name and I sold it and now I want to buy another place and buy it for my wife's name. I would like to have an income tax above my wife, please guide me.
thanks
naitik
thanks
naitik
CA Rashmi Gandhi
(Expert)
15 May 2019
IF AGRICULTURE LAND IS IN RURAL AREA THEN NO TAX ARISES IN INCOME TAC
CA R SEETHARAMAN
(Expert)
15 May 2019
It will be considered as gift to wife no tax payable.
CA Rashmi Gandhi
(Expert)
15 May 2019
Agree with CA R Seetharaman, same is gift in your wife hand and gift to relative is exempt in IT
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