CAPITAL GAIN

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PARTNER
57 Points Posted on 20 July 2018
MY CLINT FATHER GIVEN TO GIFT OF AGRICULTURE LAND AND THAN AFTE 5 YEAR SALE AGRICULTURAL LAND .NOW ITS LIABLE FOR PAY CAPITAL GAIN? Gift deed are not made but entry in village form no.6 .
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On 20 July 2018 at 12:57 Report
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Nil
2791 Points Posted on 20 July 2018

Agricultural land in Rural Area in India is not considered a capital asset. Therefore any gains from its sale are not taxable under the head Capital Gains

For more details  https://cleartax.in/s/capital-gains-exemption-on-sale-of-agricultural-land

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On 20 July 2018 at 13:03

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