Taxability of gift of agricultural land
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 December 2013
Is rural agricultural land received as gift comes under taxable income??
whats the difference between rural agricultural land and urban agricultural land??
thnx.....in advance......
Is rural agricultural land received as gift comes under taxable income??
whats the difference between rural agricultural land and urban agricultural land??
thnx.....in advance......
19 December 2013
It depends who has given the gift. If the gift is given by your blood relation then it is exempted but if it is given by others then yes it is taxable.
The difference between rural and urban agricultural land is that urban agricultural as and when sold will attract capital gains tax and rural land is situated beyond the Municipal limits and does not come under the definition of Capital assets is exempted.
The difference between rural and urban agricultural land is that urban agricultural as and when sold will attract capital gains tax and rural land is situated beyond the Municipal limits and does not come under the definition of Capital assets is exempted.
30 December 2013
Agreed with above reply.
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
- TDS 194-T applicability
- GST ITC REVERSE
- Fixe term employment
- Is any professional CA is here please reply
- Regarding Applicability of Tax Audit u/s 44AB
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Putting a heading on received mail
- Withdrawal in cash from partners capital account by partner
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- TDS on TRUST
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
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
