banner_ad

Capital gain

This query is : Resolved 
Profile Image

Profile Image

(Querist)
24 July 2013 Respected Sir/Madam,

If a Agricultural Land (rural; situated outside the limit of municipality and cantonment board) is sold, then
1)Shall i have to pay capital gain, as such land is not being treated as capital asset?
2)And if not, will such income be treated as other source income since the income is not belong to any head apart from other source and it is considered to be income from NON CAPITAL ASSET rather than EXEMPTED INCOME FROM CAPITAL ASSET?

Please help me...

Thanks in advance...

Sagar.
Profile Image

CA PARAS BAFNA

Profile Image

CA PARAS BAFNA (Expert)
24 July 2013 Such income is exempt from tax. Credit directly to Capital and enjoy.
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
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details