Capital gain
This query is : Resolved
18 June 2016
Hi,
In which section capital gain exemptions are available to companies on sale of land situated in rural area.
In which section capital gain exemptions are available to companies on sale of land situated in rural area.
19 June 2016
Hi Neelam,
Agriculture land situated in rural area doesn't come under the definition of Capital Assets as defined under section 2(14) of Income Tax Act, 1961.
Sale of Agriculture land situated in Non Rural Area will be considered as Capital Assets and therefore Capital gains will be calculated but the assessee can claim the exemption under section 54B.
Agriculture land situated in rural area doesn't come under the definition of Capital Assets as defined under section 2(14) of Income Tax Act, 1961.
Sale of Agriculture land situated in Non Rural Area will be considered as Capital Assets and therefore Capital gains will be calculated but the assessee can claim the exemption under section 54B.
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
- Depreciation of fixed assets- coop housing society in mumbai
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- TDS on Consultancy- Non DTAA
- Eway bill generation from place other than registeted
- GST rate and HSN code for sale of racing horses
- Condonation . E-Verification of last year return .
- TDS Return Q1 FY 2026-27
- Query – TDS on purchase of land from NRI under Income-tax Act, 2025
- DIN reactivation
- Management System (IMS)
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- 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
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
