Income from land
This query is : Resolved
21 July 2022
Dear Sir,
One of my client is having a land in his village and he gives this land on contract basis to others and earns bulk amount as income in 3 years time for using his land.
The income is deposited in my clients relative's bank account who stays in village and then the relative transfers money to my clients account.
My query is whether this income is taxable to my client as he is the owner of the land.
Please help me in this matter.
Regards,
Divyesh Jain
One of my client is having a land in his village and he gives this land on contract basis to others and earns bulk amount as income in 3 years time for using his land.
The income is deposited in my clients relative's bank account who stays in village and then the relative transfers money to my clients account.
My query is whether this income is taxable to my client as he is the owner of the land.
Please help me in this matter.
Regards,
Divyesh Jain
21 July 2022
You have not specified the usage of land, its status being agricultural or not... etc.
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
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- TDS Deducted AY-2013-14 Not Reflected in 26as
- ADVANCE PAYMENT OF ADVOCATE
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Eway bill generation from place other than registeted
- Goods sold but invoice not issued
- GST rate and HSN code for sale of racing horses
- Query – TDS on purchase of land from NRI under Income-tax Act, 2025
- 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
- LLP audit under companies act
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
