Sale of rural agri land
This query is : Resolved
09 August 2017
which value should we show under exempted income??? entire sale proceeds or profit on sale????
CA R SEETHARAMAN
(Expert)
09 August 2017
Profit on sale is to be shown.
CA R SEETHARAMAN
(Expert)
09 August 2017
Profit on sale is to be shown.
09 August 2017
Sir can you please clarify the section under which it is exempt????
CA R SEETHARAMAN
(Expert)
10 August 2017
Agricultural land can be excluded from taxation if specific parameters (such as: usage of the land for agriculture, distance from local limits of a municipality, and local population in the municipality) that are outlined in the Indian income tax laws (Section 2(14) of the Income Tax Act, 1961 (the Act)) are met.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
