Dear Friends,
One of my friend sold a Agricultural Land at arround Rs, 1,00,00,000.00 (One crore) only during September 2017. What is it's impact on IT.
Menu
Income tax on sale of agriculture land
Replies (5)
Also his other taxable income, whatever is more than 2.5L will be taxed at 30% i.e. the highest bracket
excluding any income that is taxed at special rates.
it's fully exempted
It will be fully exempted under section 10(1)
However this exemption will also lead him to pay more tax, as this agricultural income will be considered for co. putation of total tax liablity under Scheme Of Partial Integration
However this exemption will also lead him to pay more tax, as this agricultural income will be considered for co. putation of total tax liablity under Scheme Of Partial Integration
Recent Topic
- ITR-2 : cash income that does not fall under any h
- Debit note issued to supplier
- Ca pratik takkar imp list
- TDS EXECESS AMOUNT ADJUSTMENT
- What's the ONE thing about GSTR-2B / IMS reconcili
- Is GST Registration Mandatory for Freelancers in I
- ITR TO FILE
- Shift of Place of Business from one state to anoth
- Form 10E u/s. 89(1). Need clarification because Ex
- Long Term Capital Loss - Tata Capital unlisted sha
Related Topics
CAclubindia
