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Agriculture Land Received from Father

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127 Points Posted on 23 December 2021
One of my friend has received agricultural land in inheritance amounting to 44 lacs ? Whether the same has to be shown in ITR as Exempt Income ?
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On 23 December 2021 at 13:58 Report
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Chartered Accountant
5010 Points Posted on 23 December 2021

Gift received from relatives is capital receipt. 

No need to show under ITR

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On 23 December 2021 at 14:33


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