Sale of agriculture land

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samuel (Querist)
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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????

please help....

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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12 August 2014 where it is situated in rural or urban/

samuel

samuel (Querist)
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12 August 2014 it is a rural land. and the consideration so received by the person has been used for investing in fixed deposit in banks....

CA UMESH DULAL

CA UMESH DULAL (Expert)
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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.

CA UMESH DULAL

CA UMESH DULAL (Expert)
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samuel

samuel (Querist)
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13 August 2014 thank u so much for the help

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