Sale of agriculture land by a company
This query is : Resolved
10 March 2012
Dear CCI Members,
my Campany sale Agriculture Land (Markanam- Tamilnadu) on 12/02/2012 which Gain is 36.5 crores is taxable or not. how and which manner and section
my Campany sale Agriculture Land (Markanam- Tamilnadu) on 12/02/2012 which Gain is 36.5 crores is taxable or not. how and which manner and section
10 March 2012
Section 2 (14) define the capital assets for the purpose of capital gain. The Rural Agriculture Land is exempt in definition itself hence not taxable as capital assets.
Only Rural agriculture land is exemption not urban agriculture land.
Only Rural agriculture land is exemption not urban agriculture land.
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