Sale of agricultural land in India

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navjot pannu (Querist)
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20 March 2021 - Ancestral Agricultural land has been sold in India by a person of Indian origin who is currently a Canadian Citizen.
- Money has not been repatriated.
- Are there any taxes to be paid by the seller on sale of agri land ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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20 March 2021 20% plus sc and cess has to be deducted at source by the buyer.
Seller has to file ITR and get back the TDS deducted in case of rural agricultural land.
Capital gains tax payable in case of urban agricultural land.

PARAS CHHAJED

PARAS CHHAJED (Expert)
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21 March 2021 Buyer needs to make TDS u/s 195. The seller may request for lower deduction of tax at the source.
Long Term Capital gain on sale of Rural agricultural land used for agriculture is exempt. Gain on sale of Urban land is taxable.

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