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sale of agricultural land
do i have to pay tax on sale of agriculture land .
Replies (5)
If it is Rural agricultural land, then no tax is payable.
If you have sold urban agricultural land then tax is payable but you can claim capital gain exemption under section 54B
If you have sold urban agricultural land then tax is payable but you can claim capital gain exemption under section 54B
meaning of rural agriculture land as per 2(1a)
Meaning of rural agricultural land under section 2(14)
2(14) is meaning of capital assets
do we have to buy some other land from that money within 2 years..is it necessary?
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