Sale of rural agricultural land
This query is : Resolved
14 December 2012
I had sold rural agricultural land at a profit.Section 2(14) exempt rural agricultural land from the definition of capital asset. Further Sale proceeds of Agricultural land is not Agricultural Income. So under which head I have disclose this income?
14 December 2012
As Rural Agriculture land is not cover under the defination of Asset,
This is an expemt income hence do not disclose anywhere in ITR.
This is an expemt income hence do not disclose anywhere in ITR.
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