CAPITAL GAIN ON SALE OF Agriculture LAND
This query is : Resolved
26 June 2009
What amount of tax charged on Transfer/sale of Agricultural land to another person?
Kindly give an example too..
Thanks
Kindly give an example too..
Thanks
26 June 2009
Hie padmanabh,
Transfer of Agriculture land is depend upon two things: -
01. is it situated at rural area or urban area.
02. time period for which it was hold by the person .
If the land is situated at rural area then it is exempt under income tax act or if it is situated at urban area then holding period becomes very imp. becuase if it is hold for more than 3 years then it would be taxed @20% and exemption will be available on da amt. of Capital Gain if it is invested one year back or within 3 year from da date of transfer in Agriculture land or securities specified u/s 54EC.
Transfer of Agriculture land is depend upon two things: -
01. is it situated at rural area or urban area.
02. time period for which it was hold by the person .
If the land is situated at rural area then it is exempt under income tax act or if it is situated at urban area then holding period becomes very imp. becuase if it is hold for more than 3 years then it would be taxed @20% and exemption will be available on da amt. of Capital Gain if it is invested one year back or within 3 year from da date of transfer in Agriculture land or securities specified u/s 54EC.
29 June 2009
If It is non agriclutural land than when tax is leviable?
01 July 2023
"Sorry, I am not a featured member."
For featured members contact....
https://www.caclubindia.com/catalogue/featured.asp
For featured members contact....
https://www.caclubindia.com/catalogue/featured.asp
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
- Reopen of assessment proceeding
- Depreciation of fixed assets- coop housing society in mumbai
- TDS on Consultancy- Non DTAA
- Management System (IMS)
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- EPF FULL & FINAL RULES IN 2026
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Foreign lottery ticket bought online from India: legality, tax and consequences
- 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
