Sale of agricultural land in rural area

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Hello everyone,

I am working in private company and earns 30k.

I lost my father in 2013 and for marriage of my sisters i sold my Agricultural Land in Rural area worth 25 lakh in June 2016 and got all amount from Cheque in my Salary account.

Now i have to fill ITR this year.My questions are-

1)Which ITR should i file? ITR-1 or ITR-2 or any other?

2)As per my research its non Capital income so no tax is applicable. But i have to disclose this income to Income Tax Department. So exactly where i have to disclose this amount? I will fill my ITR through Cleartax.com but i cant find any place where i can fill this amount.

 

Kindly answer this 2 question, i will be Thankful to you.

Replies (3)
In most answers i found on Net,its said that its non taxable but you should disclose this.

But nowhere i found where and how to disclose this amount.

please help me urgently...

1. You may file ITR1 for AY 2017-18

2. The non taxable income can be shown under Schedule EI (i.e. Exempted income' under 'others'

Exempt income (For reporting Purposes)
(i) Sec.10(38)  
(ii) Sec.10(34)  
(iii) Agriculture Income (≤ Rs.5000)  
(iv) Others
S.No.   Nature of Income Amount
1      
alt del

Thanks for prompt reply Sir,

Plz confirm that should i mention my Agricultural Land sale in Sr No - 4 - OTHERS ?

Also should i write there like this in OTHERS :- Sale of Agricultural Land in Rural Area = 25 Lakh ??

 

Your reply will be great help me to....

Thanks again...

Waiting for your reply....

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