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Kuldeep Singh   14 June 2021

Sale of agreiculture land in rural area

Sir/Madam,

 

How to calculate tax on sale of agriculture land in rural area 



 3 Replies

Sourav

Sourav (Student)     14 June 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.
Sivaramaraju G

Sivaramaraju G (Learner)     14 June 2021

As it is not a capital asset, you no need to calculate gain as per IT Act. and there will be no tax on gain on sale of rural agri land in India.
Manikanta juluri

Manikanta juluri (Student)     14 June 2021

Agriculture land is not capital asset as per section 2(14) hence no capital gain tax on sale of agriculture land

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