Is indexation option available on sale of agriculture land
i.e., option to pay 20% with indexation and 10% without indexation
Menu
Indexed cost
Replies (5)
If it is rural agriculture land then no need to offer for tax.
if it is urban agri land then you can avail indexation benefit
Thank you
You can also write to me at sthayin @ gmail for further assistance
if it is urban agri land then you can avail indexation benefit
Thank you
You can also write to me at sthayin @ gmail for further assistance
If it's Rural Agri Land then it's tax free Exempt .
----
it it's urban then get indexation and pay 20%.
No option for 10%.
You also get Deduction under section 54B
----
it it's urban then get indexation and pay 20%.
No option for 10%.
You also get Deduction under section 54B
1. I agree with Pravin Ji. Sale of rural agricultural land will be exempt from payment of tax.
2. However, the sale of urban agricultural land will be taxable under sec 45 and no option to pay tax @ 10% without indexation benefit.
3. Indexed COA shall be deducted from sale consideration and arrive at Long term capital gains which will be chargeable to tax @ 20%.
Please correct me if the above solution has an alternative view.
@ hitesh
its rural agriculture land.
mail me at sabyasachimukherjee7098 @ gmail.com
its rural agriculture land.
mail me at sabyasachimukherjee7098 @ gmail.com
@ hitesh
I hope your query must have been solved by now.
-------
Sabyasachi, rural Agri land ? But not specified by Hitesh.
Anyway Do you hv different views then share it here ... welcome
I hope your query must have been solved by now.
-------
Sabyasachi, rural Agri land ? But not specified by Hitesh.
Anyway Do you hv different views then share it here ... welcome
Recent Threads
- Section 194T – TDS on Payments to Partners:
- Tax planning with HUF
- FCN ( Financial Credit Notes) Treatement in Books
- Indemnity bond notarization for Income Tax (NRI ou
- GST - RCM - for Commercial Building Rent
- Exemption from Penalty for delayed Board meeting
- TDS ON PROFESSIONAL FEES IN NON AUDIT CASE
- Penalty are applicable on short payment of GST
- Closing Stock111
- INVOCIE GENERATED FROM ONE COMPANY AND EWAY BILL G
Related Threads
CAclubindia
