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.
Read more at: https://www.caclubindia.com/forum/tax-treatment-of-profit-on-sale-of-rural-agricltural-land-283862.asp#.UxSsMfmSwbu
Read more at: https://www.caclubindia.com/forum/tax-treatment-of-profit-on-sale-of-rural-agricltural-land-283862.asp#.UxSsMfmSwbu
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.
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.
10 March 2014
You are welcome. You should use the thanks button to convey your thanks.
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