Sale of agricultural land
This query is : Resolved
25 July 2013
My cousin grand father is NRI and has sold his agricultural land in October 2012. The land is in rural area 25 kilometers away from municipal corporation. He has transferred all the money from sale of land abroad. I want to know that will my grand father will be taxed for this sale of agricultural land ?
25 July 2013
gain from sale of rural agriculture land is exempted.
25 July 2013
sale of agricultural land is exempt from capital gains
25 July 2013
can you please give me the section or reference number under IT act.?
25 July 2013
Agricultural land is not capital asset only as per defintion of capital asset it is excluded hence transfer of it is exempted from capital gain.
25 July 2013
REFER SEC 2(14) FOR CAPITAL ASSET DEFINTION AND EXCLUSION OF AGRICULTURAL LAND.
25 July 2013
Thank you..
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
- Showing Gift from relative in ITR for this year
- ITR selection for salaries and capital gain less than L
- Share accounting-->fifo - capital gain - period as per fifo?
- Treatment of Pension ?annuity returns on PMVY
- Soyabean hsn code and gst rate
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- BIS Certificates
- NON- SUBMISSION OF LLP FORM 3
- Scrutiny assessments u/s 143(2) for AY 25-26
- Regarding IMS Mandatory from 1st July 2026
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
