Sale of agricultural land urgent
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 August 2013
Sir
I was sell the agricultural land situated in village which is a Mandal not city.
Is there any tax payable under any law.
Thanks in advance.
I was sell the agricultural land situated in village which is a Mandal not city.
Is there any tax payable under any law.
Thanks in advance.
22 August 2013
YES,,IF IT IS RURAL AGRICULTURAL LAND...IT IS NOT CAPITAL ASSET VIDE SECTION 2(14)
ACCORDINGLY TRANSFER WILL NOT ATTRACTS CAPITALGAINS TAX
ACCORDINGLY TRANSFER WILL NOT ATTRACTS CAPITALGAINS TAX
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