Hi...friends help me in these query
Agriculture income has been received in kind(property),subsequent sale of such property will attract capital gain?
Thanks n Regards
Sae keyrun.M
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Agriculture income u/s 2(1a)
Replies (1)
Dear
there are two things in your question
one is whether agriculture income received in kind (Property) is taxable or not
ANS not taxable as it is exempt u/s 10(1)
second is when such property will be sold than capital gain arise or not
Ans : Definately arise if that property is not a rural agriculture land.
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