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Agricultural land under income tax

Tax queries 239 views 1 replies

A person has purchased a land situated in rural area. He sold it after 8 years by dividing it into 3 parts. 

In sale deed it is mentioned as empty land without any trees or plantations.

Can we consider this land as rural agricultural land? If not, what is the taxation on this land?

 

Replies (1)
type of land is mentioned in land record / patta
if it is mentioned in patta as it is a agricultural land, then, it is agricultural land
rural area- if the land not fall within followings
-Municipality/ cantonment board having population 10,000 or more
-population more than 10,000 up-to 1,00,000 within 2km from local limit of municipality
- more than 100,000 upto 10,00,000 within 6km from local limit of municipality
- more than 10,00,000 within 8 km from municipality

if both the above mentioned conditions fulfilled then it is a rural agricultural land


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