12 August 2014
person x has purchased a agriculture land on may 2012 and have sold the same land on July 2013 will this be treated as agricultural income ????? if no, then what will be tax treatment????
12 August 2014
If it is rural Ag land, there in no tax on capital gain. However, my suggestion to you to check whether it fails within the meaning of rural ag land as per the provisions of Income Tax Act.
12 August 2014
If it is rural Ag land, there in no tax on capital gain. However, my suggestion to you to check whether it fails within the meaning of rural ag land as per the provisions of Income Tax Act.
CAclubindia
