capital gain problem
This query is : Resolved
16 February 2011
Sir, i have came across a problem, i will be very thankful to you if you help me out.
my one client has agricultural land at a village Dhadola which is used for agricultural purposes since long and my client hold it from jan,2008. he also used it for agri purposes.
now that land falls under tehsil Bapoli ie where land records are kept and where land is registered and there is no municipal corporation or any cantonment board there and population was below 10000 in 2001 census. there is a panchayat at that tehsil bapoli. this tehsil bapoli falls under halka ie electoral area samalkha which has population exceeding 10000 during 2001 census.the land has road distance of more than 8 kms from both samalkha and bapoli.
kindly let me know the tax implication and whether its a agri land or not.
keenly waiting for reply
thanx
regards
Sir, i have came across a problem, i will be very thankful to you if you help me out.
my one client has agricultural land at a village Dhadola which is used for agricultural purposes since long and my client hold it from jan,2008. he also used it for agri purposes.
now that land falls under tehsil Bapoli ie where land records are kept and where land is registered and there is no municipal corporation or any cantonment board there and population was below 10000 in 2001 census. there is a panchayat at that tehsil bapoli. this tehsil bapoli falls under halka ie electoral area samalkha which has population exceeding 10000 during 2001 census.the land has road distance of more than 8 kms from both samalkha and bapoli.
kindly let me know the tax implication and whether its a agri land or not.
keenly waiting for reply
thanx
regards
16 February 2011
If the land is assessed as Agricultural land under land revenue legislation and tax is paid under land revenue then it will be agricultural land in given circumstances
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