Menu
Queries regarding agriculture land
Hello!
I have few queries again on behalf of a friend -
-- My land is situated 12 km away from Municipal Corporation limits in a small village having population not more than 2000. But, this land is infertile. So, will this land be considered as Agriculture Land?
-- Will this land be considered as a Capital asset?
-- I had purchased this land about 15 months back! But, I want to sell it now! So, will I be able to take exemption on the gain arising from the selling of this land?
Replies (1)
Shortest aerial distance from
Local limits of a municipality
Less than equal to 2 km Population >10000 but less than 100000
Less than equal to 6 km Population >100000 but less than 1000000
Less than equal to 8 km Population >1000000
in you case agriculture land is located 12 km away from municipality and hence, its not a capital asset.
you can sell this agriculture land.
Recent Topics :
- Free Pre-Filing Tool to Match GSTR-3B vs GSTR-2B (
- MR AASHOK KUMAR SHARMA
- NIC codes for FIRMS registration of entity
- Register on Income Tax as CA
- Deduction In Employee Provident Fund
- This is a gift for all Chartered Accountants and P
- NRI, ITR-2 FY 2025-26: AIS Part B2 (SFT) shows hig
- Wallet query for GST.
- 25-26 exempted sales
- Hotel stay below Rs.1000/- GST applicable or exemp
Related Topics :
CAclubindia
