Treatment on sale of rural agricultural land
This query is : Resolved
Yogesh Sharma
(Querist)
14 December 2013
Sir,
It is clear that rural agri. land is not a capital asset. but ur expert opinion required on certain point: -
1) Is there any income on sale of rural agri. land.
2) If so, how we disclose this income ? (under which head)
3)If assessee don't have any other income, is it mandatory to file I.T.R. If yes, than which form is applicable ?
It is clear that rural agri. land is not a capital asset. but ur expert opinion required on certain point: -
1) Is there any income on sale of rural agri. land.
2) If so, how we disclose this income ? (under which head)
3)If assessee don't have any other income, is it mandatory to file I.T.R. If yes, than which form is applicable ?
CA PARAS BAFNA
(Expert)
14 December 2013
In my view when the income is not taxable, the assessee is not required to file the return.
.
.
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