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(Querist)
01 April 2016 WHERE should I show the sale of rural agricultural land in itr 4 for the individual for A/Y 15-16.Is this income totally exempted from the tax?
please respond as early as possible

thank you
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venkata krishna reddy

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venkata krishna reddy (Expert)
01 April 2016 SHOW it in capital gain
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
01 April 2016 Rural Agricultural Land is not a capital asset and therefore no capital gain. This is exempt and to be shown under Exempt Income Sheet.



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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
01 April 2016 Sale of Rural agricultural land is not capital asset. So capital gain will not arise from sale. No need to show in tax return.

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