Sec 50c
This query is : Resolved
25 January 2013
DEAR ALL
MY QUESTION IS
AGRICULTURAL LAND COMING BEYOND 8KM FROM CITY LIMITS AND LESS THAN 10000 POPULATION.
WEATHER UNDER VALUATION ATTRACTS SEC 50C.
REGARDS
BHARATH
MY QUESTION IS
AGRICULTURAL LAND COMING BEYOND 8KM FROM CITY LIMITS AND LESS THAN 10000 POPULATION.
WEATHER UNDER VALUATION ATTRACTS SEC 50C.
REGARDS
BHARATH
CA PARAS BAFNA
(Expert)
25 January 2013
Since such agriculture land is not a capital asset , Section 50C provisions are not applicable in case of its transfer.
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