sale of agricultural land in rural area is not treated as capital asset and no capital gain but practically tax is being levied may I know the reason
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Long term capital gain
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No clear cut directive from CBDT to revenue authority (for non-deduction of TDS) !!!
correct...no tax is levied.
TDS not deductable on sale of agriculture land, as it is not a capital gain
| Originally posted by : saranya | ||
 |
sale of agricultural land in rural area is not treated as capital asset and no capital gain but practically tax is being levied may I know the reason |  |
but practically tax is being levied may I know the reason
Will you please elaborate how? Your Querry is not clear.
| Originally posted by : saranya | ||
|
sale of agricultural land in rural area is not treated as capital asset and no capital gain but practically tax is being levied may I know the reason | |
AGRICULTURE LAND IS NOT COVERED UNDER DEFINITION OF CAPITAL ASSETS
SO NO CAPITAL GAIN WILL BE RAISED
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