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Rural agriculture income
how we take profit on sale of rural agriculture land in itr 3
Replies (3)
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
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.
Rural agricultural land is excluded from the definition of capital asset, so there will be no capital gain on sale of rural agricultural land
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