Whether agariculture land in urban arae is taxable.
This query is : Resolved
08 July 2012
Hi
Some of my clients have sold their ancestarl agriculture land in Udasar Vilalge. Udasar village has their own gram panchayat. The area is out of Bikaner muncipal Area And have population under 10000/-, It is a rural area.Udasar Agriculture land which have been sold is 4.5 Km away from Bikaner munciapl area. The land was purely used for agriculture purpose as i have girdawari and patwari report. SIr now the ITO is saying that you have to deposit capital gain on it so sir please tell me the solution of my problem.
Some of my clients have sold their ancestarl agriculture land in Udasar Vilalge. Udasar village has their own gram panchayat. The area is out of Bikaner muncipal Area And have population under 10000/-, It is a rural area.Udasar Agriculture land which have been sold is 4.5 Km away from Bikaner munciapl area. The land was purely used for agriculture purpose as i have girdawari and patwari report. SIr now the ITO is saying that you have to deposit capital gain on it so sir please tell me the solution of my problem.
08 July 2012
In case the Girdawari and Patwari Report affirms the fact that the land situated in Udasar is a Rural Agriculture land....
.
or.
.
If you can produce any evidence suggesting that the area is out of notified area, AO
can not tax the property.
.
AO may be of the firm belief that since Udasar is very near to Gangashahar or Bhinasar,(less than 8 KM.), so he could consider it an Urban Area, but, when the area has not been notified in the official Gazzete for urbanisation, he can not tax the transaction....as this would not fall under the definition of transfer.
.
.
or.
.
If you can produce any evidence suggesting that the area is out of notified area, AO
can not tax the property.
.
AO may be of the firm belief that since Udasar is very near to Gangashahar or Bhinasar,(less than 8 KM.), so he could consider it an Urban Area, but, when the area has not been notified in the official Gazzete for urbanisation, he can not tax the transaction....as this would not fall under the definition of transfer.
.
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
- Section 270A penalty
- GST Registration Application -Rejected
- GSTR 1- Amend Credit Note
- GSTR 9C- Table 9
- Tax liability on gift amount given to blood relation
- International transfer pricing- -> father entity vs son entity ->WHERE NO mutual say in management
- Acting as an Agent
- Reimbursement of expense- GST applicable or not
- When was the effective CA partnership deed? Can I use old FRN until new FRN alloted by ICAI?
- To Whom the Professional Invoice should be Raise
- E stamp paper purchase
- Problem in filing Returns for International workers in EPFO
- Clarification for reversal of IGST on transfer of duty-free imported goods from EOU to DTA unit
- EXCESS CREDIT REALTED GST REVERSAL
- Export invoice not reported
- CA Articleship Extension Matter
- GST OFFICER WRONG NOTICE
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Composition Dealer GST Annual Return Filing process
- Revision under Section 264 in The Income Tax Act, 1961
Trending Online Classes
-
Live Course on GSTR 9 & 9C for FY 24-25(Detailed discussions, FAQ, Case studies and Live demo of GSTR 9/9C on GST Portal)
Industry Expert16 November 2025
CAclubindia
