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Land selling
for agri land selling what are the tax applicable ?
Replies (2)
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.
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.
@ Rashmi Gandhi : Thanks
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