Sale of agricultutal land taxation


This query is : Resolved 

Quick Summary
This discussion concerns the taxability of selling agricultural land purchased in 2018 and sold in 2019. The land was divided and sold to multiple buyers in small plots within a rural area. The consensus is that short-term capital gains tax applies to this sale. Further clarification is sought regarding the specific tax rates and any available exemptions for these gains.

(Querist)
01 July 2020 Assessee purchased agricultural land of 1 acre in 2018 and sold in 2019 for 40 purchasers in small guntas agri land is in rural area. Explain the taxability of income on sale of agricultutal land

c.bakshi (Expert)
02 July 2020 SHORT TERM CAPITAL GAIN IS APPLICABLE

swetha (Querist)
02 July 2020 Sir could u explain the rate of tax and exemption that can b claimed for shortterm capital gain


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
ARTICLESHIP 07 October 2026
Article Trainee/ CMA Trainee

RMA And Associates LLP

New Delhi

CA Inter

View Details
Company
Featured ARTICLESHIP 06 October 2026
Semi Qualified

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
12 October 2026
Chartered Accountant - Internal Audit

HKC | Chartered Accountants & Business Advisors

Ludhiana

CA

View Details
Company
08 October 2026
SALES TELECALLER

HIRE NOVA

Lucknow

Graduate (Any)

View Details
Company
19 October 2026
Accountants/Articles (Freshers/Experienced)

ADY & CO.

New Delhi

Graduate (Any)

View Details
Company
ARTICLESHIP 07 October 2026
Article Assistant

Malhotra Rajesh & Associates

New Delhi

B.Com

View Details
Company
15 October 2026
Senior Accountant

Continental Belting Pvt Ltd

Mumbai

B.Com

View Details
Company
ARTICLESHIP 30 September 2026
CA Article Assistant

CA Suraj Garg & Associates

New Delhi

CA Final

View Details