Sale of rural agriculture land should be reportd in ITR


This query is : Resolved 

Quick Summary
Even though it might not have been strictly necessary before, it's now advisable to report the sale of rural agricultural land in your Income Tax Return (ITR). This should be done under the 'Exempt Income' section. Reporting this sale, even if it's not considered a capital asset, can help prevent future correspondence with the tax authorities.

13 July 2022 sale of rural agriculture land in previous year should report in ITR under exempt income ????
although it's not a capital assest

13 July 2022 Though it was not necessary earlier, but to avoid future correspondence, it is advisable to report it under 'Exempted Income'

14 July 2022 thanks for prompt reply SIR

14 July 2022 Most Welcome ..


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 26 August 2026
Article Assistant

ANIVESH CONSULTANTS LLP

Gurgaon

CA Inter

View Details
Company
ARTICLESHIP 25 August 2026
CA Article's

Saini Pati Shah & Co LLP

Mumbai

CA Inter

View Details
Company
08 September 2026
Audit Executive

Thammana & Associates

Srikakulam

B.Com

View Details
Company
ARTICLESHIP 29 August 2026
Article Assistant

RRPM & ASSOCIATES LLP

Chennai

CA Inter

View Details
Company
ARTICLESHIP 24 August 2026
Article Assistant

M/s.S.G.Salecha & Co.

Mumbai

CA Inter

View Details
Company
Featured 11 September 2026
Audit Executive

RBSM Corporate Advisors Private Limited

Pune

CA

View Details
Company
19 August 2026
PAID ARTCILE ASSISTANT

My Legal Tax Consultants Pvt. Ltd.

Noida

CA Inter

View Details
Company
Featured 12 September 2026
Assistant Manager - Finance & Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details