Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 March 2014
Dear sir,
income arising on sale of agriculture land is exempt from tax. which conditions satisfy?
income arising on sale of agriculture land is exempt from tax. which conditions satisfy?
05 March 2014
if the agriculture land is a land covered in exception to section 2(14)((iii), then any income from that land including its sale is non-taxable as such land is not even considered as a capital asset.
the conditions as such are that the land must be in use for agricultural activities.
the conditions as such are that the land must be in use for agricultural activities.
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