banner_ad

Capital Gain

This query is : Resolved 
Profile Image

Profile Image

(Querist)
23 June 2008 Mr.A purchased agricultural land during Dec-2005 and declared income from Agriculture land in his return of Income for rate purpose. Agriculture Land is situated in a village, which is beyound 8 K.M from municipal limit and population is less than 10,000.

Whether sale of above agriculture land during July 2008 will attract short term Capital Gain Tax.
Profile Image

CA. Yayati Tyagi

Profile Image

CA. Yayati Tyagi (Expert)
24 June 2008 if it is an agriculture land, there will be no capital gain on sale. it is exempt.
Profile Image

Sakshi Gumbar

Profile Image

Sakshi Gumbar (Expert)
24 June 2008 agricultural land situated out of the municipal jurisdication and having population of less than 10,000 is not a capital asset for income tax purpose and hence no capital gain on its tranfer.
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
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
10 May 2026
Finance specialist

Right way solution

Ajmer

CA

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details