Short term gain on sale of agriculture land
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 December 2014
Dear Sir, Kindly help me in tax calculation of Income from Sale of Agriculture Land. If I Purchase agri. Land from farmer and I Sold to any other person in short term whether it is liable to any capital gain? And As per Definition of Capital Assets agriculture land beyond 8 Km of Urban Area it is not liable to Any Capital gain. What to do in Such Transaction kindly guide us. How to show income in Income tax Return.
Kindly provide prompt Reply it’s Urgent…….
Kindly provide prompt Reply it’s Urgent…….
10 December 2014
agricultral land is exempted from capital gain
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