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Regarding Capital gain
Sir I have a Agricultural land out of Municipal area and now I have sold this agri. land,Sir I have liable to pay the capital gain tax.
Replies (3)
No. if its beyond specified distance as per the act......
Sir Thanks very much
It depends upon whether it is rural or urban land
if it is rural - it is not capital aaser, so no capital gain will be charged.
If it is urban - completely taxable.
To get insight about whether it is rural or urban follow this link
https://help.myitreturn.com/hc/en-us/articles/219728847-What-is-an-urban-agricultural-land-
if it is rural - it is not capital aaser, so no capital gain will be charged.
If it is urban - completely taxable.
To get insight about whether it is rural or urban follow this link
https://help.myitreturn.com/hc/en-us/articles/219728847-What-is-an-urban-agricultural-land-
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