Very recently I sold my agricultural land for 25,00000/=.
Purchaser paid income tax of Rs. of Rs.25,000/= for assessment year 2023-24.
Now,
1.Should I file ITR for this income
2.Can I claim refund for this amount.
3. If I have to pay income tax for this income, then how to save it.
Please let me know.
I am new to all these.
Regards,
K.Shashidhara Sastry
If the land is rural agricultural land, no tax liability. No need of LTCG saving investment/s.
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