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Sale of rural agri land

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(Querist)
09 August 2017 which value should we show under exempted income??? entire sale proceeds or profit on sale????
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
09 August 2017 Profit on sale is to be shown.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
09 August 2017 Profit on sale is to be shown.
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Yuvitha

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Yuvitha (Querist)
09 August 2017 thankq sir
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Yuvitha

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Yuvitha (Querist)
09 August 2017 Sir can you please clarify the section under which it is exempt????
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CA R SEETHARAMAN

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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.
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