Sale of agriculture land
This query is : Resolved
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....
please help....
12 August 2014
where it is situated in rural or urban/
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
(Expert)
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
(Expert)
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.
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