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Agricultural land meaning

ITR 695 views 1 replies

Hello Friends,

Would anyone of you help me to resolve the follwoing query:

I have a residential land at a village where no Municipal committee is exist, now I have sold this land, would the transaction considered for capital gain purpose. there is any difference exists for agricultural land and residential land as per income tax act.  if I ask in details then can a residential land be considered as agricultural land under income tax act.

Thanks in advance.

Replies (1)
No..if it is not attached to a kand which is agriculture, then you cant tear i.e. as agriculture lands


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