Agriculture land
Satish Patel (MBA) (42 Points)
30 July 2016
We have sold pure Agricultural land Purchased 5 Years before ,20 Kms distanced from city limit ,to a company ,under 63AA clause of Gujarat Revenue code which permits Agricultural land sales to a company for bonafide industrial purpose. The reference rates/Jantri for calculating stamp duty for Registration of sale deed are as per Industrial NA land. Are we required to pay IT on Profit ?
CAclubindia
