Profit on sale of rural agricultural land.

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 March 2014 Hey friends guide me to give knowledge about tax treatment of profit on sale of rural agricultural land..? I know that rural agricultural land is not consider as capital asset, so if it is exempt then in which section I indicate it..? and can I shaw it in ITR Form..? Please sir reply me as earlier as possible.

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CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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04 March 2014 Capital gain arising on sale of rural agricultural land is exempted u/s 10(37).

You should show the same under exempt income in the return.

Querist : Anonymous

Querist : Anonymous (Querist)

09 March 2014 Thank you sir giving me your guidence.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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10 March 2014 You are welcome. You should use the thanks button to convey your thanks.

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Profit on sale of rural agricultural land.

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