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Land selling

moorthy raju (STUDENT) (47 Points)

22 May 2017

for agri land selling what are the tax applicable ?

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CA Rashmi Gandhi (Chartered Accountant) (86275 Points)
Replied 22 May 2017

If rural agriculture land is sold out then there is no tax implication.

In case of urban agriculture land tax @ 20% imposed on your sales consideration less indexed cost of acqisition & transfer exp.

Taxability is at normal slab rate if land is hold for less than 2 years.

moorthy raju (STUDENT) (47 Points)
Replied 22 May 2017

@ Rashmi Gandhi : Thanks

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