Capital gain on urban agricultural land
This query is : Resolved
29 December 2015
Dear Sir/Madam
I Have 2 Doubts in Urban Agricultural Land Sale, Please Clarify
If An Assessee Have an Urban Agricultural Land from past 10 Years, its totally Leased to Cultivator and Receive Leased Income (Agricultural Income).
1) My Doubt is if He is Sold this Urban Agr. Land He is Eligible or not to Get Exemption U/s 54B. If any Agr. Land Purchase.
If An Assessee Have an Urban Agricultural Land from Past 10 Years and its first 4 Years Used by the Father for Agricultural Purpose and Next 6 Years Leased to Cultivator and receive Leased Income from Cultivator (Agricultural Income).
1) My Doubt is if He is Sold this Urban Agr. Land He is Eligible or not to Get Exemption U/s 54B. If any Agr. Land Purchase. Please Clarify
Thanks in Advance
I Have 2 Doubts in Urban Agricultural Land Sale, Please Clarify
If An Assessee Have an Urban Agricultural Land from past 10 Years, its totally Leased to Cultivator and Receive Leased Income (Agricultural Income).
1) My Doubt is if He is Sold this Urban Agr. Land He is Eligible or not to Get Exemption U/s 54B. If any Agr. Land Purchase.
If An Assessee Have an Urban Agricultural Land from Past 10 Years and its first 4 Years Used by the Father for Agricultural Purpose and Next 6 Years Leased to Cultivator and receive Leased Income from Cultivator (Agricultural Income).
1) My Doubt is if He is Sold this Urban Agr. Land He is Eligible or not to Get Exemption U/s 54B. If any Agr. Land Purchase. Please Clarify
Thanks in Advance
Amol S Joglekar
(Expert)
29 December 2015
54B is available if " land being used by the assessee being an individual or his parent, or a Hindu undivided family for agricultural purposes"
The exemption is available for urban lands as well.
The exemption is available for urban lands as well.
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
- Reward for festival
- 18% Rent a cab
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Gratuity paid to legal heir above 20 lakh is taxable or not
- Movement of goods by packers and movers - type of sale - Reg.
- ARCA LOGIN
- RCM and same line
- Closer of business and itc of capital goods
- TDS Return Statement Status
- Missed uploading GST Invoice
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
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
