banner_ad

Capital gain

This query is : Resolved 
Profile Image

Profile Image

(Querist)
17 October 2011 I purchases Rural Agriculture Land 4 Years Ago and I sale this land
is it taxable or not if taxable will i get Exampiton in any section.
Profile Image

CA Neha Jain

Profile Image

CA Neha Jain (Expert)
17 October 2011 It will be taxed.

please refer section 54B for exemption, if any. you have not metioned details of the use of the land and where the amount of sale invested.

please go through the above section.

Hope this will resolve your query
Profile Image

CA Dileep Surya Kumar

Profile Image

CA Dileep Surya Kumar (Expert)
17 October 2011 As per the definition capital asset u/s 2(14) Of Income tax act,1961 specifically excluded rural agriculture land.

therefore no question of tax.
Profile Image

Yash Anandkumar Mandavia

Profile Image

Yash Anandkumar Mandavia (Expert)
17 October 2011 I would agree with answer of Mr. Dileep. Rural Agricultural Land itself is not a capital asset. So, no question of Tax.
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
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

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

SSGS and Associates

Chennai

CA Inter

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details