Dear Sir , I have a Question Regarding Income tax For Rural Agricultural land .
following are my Quaries
1 According To Income tax rule Rural Agricultural sale are in Tax exemption But My Quaries are related To what kind of sale are not in tax exemption
first A person Who is the owner of A paternal Agricultural land And he sale his/Her land In divided manner like he sale his 26 kanal land with 10 Registary And each registery have 2 Kanal and 2 kanal Registary Is valid as A Agricultural land registry my Question is is this type of land sales are in Tax exemption or The saler have to pay 12.5 % tax while filing a ITR
2nd my question is A person who is Owner of a paternal agricultural land And he sale his land in Square yard manner Like he sale his land in plots so what kind of and how much tax liability in this case
3rd Question How much Tax exception on Rural agricultural land . while we talk about The Market rate or collector rate ?
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