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Rural agriculture income

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1 Points Posted on 15 January 2021
how we take profit on sale of rural agriculture land in itr 3
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On 15 January 2021 at 00:05 Report
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Chartered Accountant
24588 Points Posted on 15 January 2021
Agricultural land in Rural Area in India is not considered a capital asset. Therefore any gains from its sale are not taxable under the head Capital Gains. F
129 Reply
On 15 January 2021 at 09:34
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17264 Points Posted on 15 January 2021
Any capital gain on Rural agri land is not taxable. check criterias of distance from municipal area and decide status of agri land as Rural Agri land.
101 Reply
On 15 January 2021 at 15:03
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Accountant
4533 Points Posted on 15 January 2021
Rural agricultural land is excluded from the definition of capital asset, so there will be no capital gain on sale of rural agricultural land
19 Reply
On 15 January 2021 at 22:09


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