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gain tax
sir 2012 m urban ancestor agriculture land 50 lakh price par sale kar k 50 lakh ki rular agriculture land pucase ki hai ITO keh raha hai khasra record m 5 saal se padti hai land tax jama karo keh raha Sir please koi rasta batae Mein Kisan hu aur kheti hi mera kaam hai aur kuch nahi karta.
Replies (2)
In order to claim exemption under section 54B, the urban agricultural land must have been used by the individual or by the parents of the individual for agricultural purpose for the period of at least 2 years prior to the date of transfer.
So, you are required to proove the land being cultivated, by khasra record, no alternative.
concur with Mr. Dhiraj reply
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