Capital gain
This query is : Resolved
03 July 2012
sir,please guide me,suppose i have sold agriculture land (i am farmer) around Rs.4 crore, then what i am liable for tax liabilities as LTCG?
My second problems,i have no PAN.Then what?
My second problems,i have no PAN.Then what?
03 July 2012
If the agricultural land is situated in a rural area, then capital gain is exempt.
Otherwise, capital gain shall arise and you will have to pay tax on it.
If you do not have a PAN, apply for the same.
Otherwise, capital gain shall arise and you will have to pay tax on it.
If you do not have a PAN, apply for the same.
03 July 2012
It depends upon where your agricultural land is situated. If the land is situated in the specified area then you will have to pay LTCG. Please see the definition of capital asset in in section 2(14)(iii)(a&b).
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
- 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
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
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
