Capital gain
This query is : Resolved
13 August 2013
The assessee has an agricultural land which was
acquired by the government in A.Y 2013-2014.
The assessee received a sum of amount RS. 41 L.What is the income tax treatment regarding same.
acquired by the government in A.Y 2013-2014.
The assessee received a sum of amount RS. 41 L.What is the income tax treatment regarding same.
13 August 2013
If the land was a rural agricultural land then it is NOT taxable.
If the land was an urban agricultural land then it is taxable as capital gain.
If the asset was held for more than 36 months, then it is a long term capital asset and exemption u/s 54F can be availed by investing the sale proceeds in a residential house property.
If the land was an urban agricultural land then it is taxable as capital gain.
If the asset was held for more than 36 months, then it is a long term capital asset and exemption u/s 54F can be availed by investing the sale proceeds in a residential house property.
Message likes :
1 times
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
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales return eway bill
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- REGARDING GST LIABILITY/....
- STCG FOR GOLD ETFs
- TDS related Query_Liquidated Damages
- Specified Profession
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
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
