Do I required to show income from
sale of agricultural land in my ITR??
Menu
Sale of Agricultural Land
Replies (5)
Is it Rural Agri land or urban agree land ?
Income you must show in ITR under proper schedule depending upon land location criteria
Income you must show in ITR under proper schedule depending upon land location criteria
In india exempt
in outside india taxable
in outside india taxable
It is not so. Only rural Agri land As defined in definition of Capital asset , are exempt
------
May you Mr. Gaurav inform under which section income on Sale of Agri Land is Exempt in India
------
May you Mr. Gaurav inform under which section income on Sale of Agri Land is Exempt in India
It is rural agricultural land.
@ sushil
Agricultural Land (rural Agri Land)
Such Agri Land is not a capital asset and hence no question of capital gain arises.
These provisions are contained in definition section 2(14)(iii) .
Agri Land as defined in 2(14)(iii) are not regarded as capital asset and hence gain is exempt.
Agricultural Land (rural Agri Land)
Such Agri Land is not a capital asset and hence no question of capital gain arises.
These provisions are contained in definition section 2(14)(iii) .
Agri Land as defined in 2(14)(iii) are not regarded as capital asset and hence gain is exempt.
Recent Threads
- Property registration without physical PAN card
- Paying Rent in Cash: This Could Trigger an Income
- Market Down, Portfolio Down: Need suggestions for
- How much tax is payable If I withdraw my mutual fu
- GST Penalty Provisions under Section 73 vs Section
- How VFA Academy Helps Traders Build Discipline and
- GSTR-3B Relationship
- Section 194T: TDS on Payments to Partners: Applica
- Tax planning with HUF
- FCN ( Financial Credit Notes) Treatement in Books
Related Threads
CAclubindia
