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Query about calculation of capital gain
I want to know that while determining urban areas for the purpose of finding capital gain on sale of agriculture land which mucipality limits are checked? city wise or district wise?
Replies (11)
From the municipality area of the assessee
I don't understand will you plz clarify
Agricultural land in India, not being land situate—
[a] in any area which is comprised within the jurisdiction of a municipality [whether known as a municipality, municipal corporation, notified area committee, town area committee, town committee, or by any other name] or a cantonment board
[a] in any area which is comprised within the jurisdiction of a municipality [whether known as a municipality, municipal corporation, notified area committee, town area committee, town committee, or by any other name] or a cantonment board
Thank you
Your welcome
And also plz tell that from where we can know that our agriculture land is under urban area or rural areas? means which department provide information
I don't have any idea on that, probably you could ask in the income tax dept ...
Sorry for that !!
Sorry for that !!
If agri land is within municipal limits, then you must be paying muni tax if any. Otherwise it's outside municipal limits.
As per my understanding municipal tax is not levied on agriculture land it is right?
You can take help of "Patwari" of that village to ascertain the distance from municipal area.
But take the distance from nearest Municipal area.
May take help of Google Map
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