Sale of agricultural land
This query is : Resolved
15 April 2013
An individual Mr.A sale his AGRICULTURAL LAND to a listed Company and received consideration in two ways.
1. Consideration as per the Govt. rate(i.e. Stamp Value) and
2. Land development cost
is the land development cost received by the seller chargeable to tax.
1. Consideration as per the Govt. rate(i.e. Stamp Value) and
2. Land development cost
is the land development cost received by the seller chargeable to tax.
15 April 2013
Definitely, it is chargeable to tax.
.
However, the nature of the development cost
itself will decide the head of Income under which it will be covered.
.
Definitely, it is chargeable to tax.
.
However, the nature of the development cost
itself will decide the head of Income under which it will be covered.
.
16 April 2013
Thank you Sir for your quick reply.
Please mention what are the possible nature of development cost.
Please mention what are the possible nature of development cost.
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
- TWO FIRM NAME IN ONE GST NUMBER
- Section 54 f disallowed will be taxed at what rate
- ITR -1 Filing
- Transportation of Petrol, Diesel by GTA and Other than GTA
- Form 16 Issues
- SEA GOING ALLOWANCE
- Transfer of rectification rights to ao
- Which ITR application
- Trust 10AB form required for old asst. years?
- TDS whether applicable or not in case of Flat purchase
- Igst utilisation query
- Section 12A(1)AC
- Interest will be paid
- CHANGE IN PARTICULARS OF DIRECTOR
- Non- payment of GST on supply of services- reg
- Accumulated surplus exceeding 15%
- Different GST Number MEESHO
- Fees amount transfer procedure for two doctors
- Notice u/s 148 of IT Act
- Credit note for cycle round
Trending Online Classes
CAclubindia
