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Agro income

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(Querist)
13 January 2015 any person sell his agriculture land which is situated in rural area is taxable? and if he buy another land earn profit of rs.300000 is also taxable??
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Amol S Joglekar

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Amol S Joglekar (Expert)
13 January 2015 the capital gain arising out of sale of RURAL agricultural land is NOT taxable. (Hope it is satisfying the condition of agri land in toto)
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Rupesh Jain

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Rupesh Jain (Expert)
13 January 2015 capital gain on tfr of land in rural area. is not taxable under the income tax act.
income is not taxable.
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