Tax treatment of sale of agri land ( rural ) as plot


This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
06 February 2012 i had Ancestral agriculture land in rural area which i would like to sell as plot for construction. is it chargeable to tax? if yes, what is tax treatment. and suggest for tax planning

06 February 2012 If you sale the land which has been used by you within 2 years from the date of NA/Sale, as the land is in Rural Area, no capital gain will arise.
.


The Fair Market Value/ Jantri Value on the date of Conversion will be taken as cost
and the sale price of plots will be taken as Sales Consideration to calculate Business Profits.
.

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
06 February 2012 Thanks bafnaji


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
28 October 2026
Assistant Director/ Associate Director-Finance & Accounting

Krea University

Chennai

CA

View Details
Company
Featured 07 November 2026
Paid Assisstant

DPV & Associates

Chennai

CA Inter

View Details
Company
Featured ARTICLESHIP 28 October 2026
CA- Inter and Articles

N N V Satish & Co.,

Hyderabad

CA Inter

View Details
Company
Featured 29 October 2026
Accounts Executive

Synergy Keystone

Chennai

B.Com

View Details
Company
ARTICLESHIP 20 October 2026
CA ARTICLE

AMKN & CO

Noida

CA Inter

View Details
Company
14 November 2026
Manager - Indirect Tax (GST)

Westbridge Consulting LLP

New Delhi

CA

View Details
Company
12 November 2026
Auditor

Oz Taxation

Vijayawada

Graduate (Any)

View Details
Company
ARTICLESHIP 28 October 2026
Article assistants

Shyam S Gupta and Company

New Delhi

CA Inter

View Details