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Sale of agri land
i have sold agri land in rural area for 10L should i show this on return..since it is not taxable?pls reply thanks in advance
Replies (4)
As such not mandatory, but better to declare it u/s. EI, to be relieved of any future query.
The sale of rural agricultural land is considered as exempt under the Income tax act.
File ITR-2 and show the entire proceeds under the "Schedule EI"
What is agri land? how we know..?
From Revenue Department. Even Talati can give you status of the land.
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