Itr 4
This query is : Resolved
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
please respond as early as possible
thank you
01 April 2016
SHOW it in capital gain
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.
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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