Sale Rural agricultural land
This query is : Resolved
19 December 2023
I am selling my rural agricultural land for 50 lakhs.
1) Can I deposit the amount as Fixed deposit in my bank account?
2) Is there any tax Implications?
3) Should I buy another agricultural land or residential property to avoid Capital gains?Note:-Sold propery is Rural agricultural land
1) Can I deposit the amount as Fixed deposit in my bank account?
2) Is there any tax Implications?
3) Should I buy another agricultural land or residential property to avoid Capital gains?Note:-Sold propery is Rural agricultural land
19 December 2023
1 Yes.
2 No, rural agricultural land is exempt from tax.
3 No capital gains tax.
2 No, rural agricultural land is exempt from tax.
3 No capital gains tax.
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
- Unregistered suppliers utility
- Difference between Date of Payment and Date of Deduction?
- ITDS U/S.194T of Firm
- EXPORT COMMERCIAL INVOICE HSN CODE
- FORM 141 SDV query
- GST not cancelled by tenant
- Bank details not Visible on Traces Portal
- TDS ON EMAIL DOMAIN SERVICE BILL
- Non-Compliance documents have not been submitted by the contractors debited
- Same demand raised for original as well as rectification request return
- Filling ITR - U
- Form 140 tds
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
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
