Good afternoon
I have sold agricultural land for rs 1.25cr.
can you please let me where it will be shown in income tax return as exempt income??
please help.
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Agricultural land taxability
Replies (1)
Proceeds from sale of rural agriculture land is exempt from tax as rural agriculture land is not a capital asset. You need to file ITR-2 and show the entire proceeds under the "Schedule EI" under point 4.
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