Capital Gain Tax on sale of Agri Land
This query is : Open
10 February 2010
In case of sale of Agricultural Land situated in rural area what will be the tax treatment?
Whether it is capital Asset?
If yes,Whether it is liable to Capital Gain Tax?
If not,whether it is consider as income from other sources?
Whether it is capital Asset?
If yes,Whether it is liable to Capital Gain Tax?
If not,whether it is consider as income from other sources?
10 February 2010
Rural agri land is not a capital asset in view of sec 2(14). Hence no capital gain on sale of such land
CA CHINTAN AJMERA
(Expert)
10 February 2010
Agree with Expert
CA Ravi Sisodia
(Expert)
10 February 2010
Agreed...
13 February 2010
In case of sale of Agricultural Land situated in rural area what will be the tax treatment?
Whether it is capital Asset?
If yes,Whether it is liable to Capital Gain Tax?
If not,whether it is consider as income from other sources?
Whether it is capital Asset?
If yes,Whether it is liable to Capital Gain Tax?
If not,whether it is consider as income from other sources?
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