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Tax on selling agriculture land

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3 Points Posted on 29 January 2022
sir, i am selling my patrimony agriculture land. its govt rate is 20 lac/acre. but i sell at 57 lac/acre.
Is this taxable or not?

if yes then what tax i have to pay?
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On 29 January 2022 at 17:42 Report
Replies (6)
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Chief Accountant
3150 Points Posted on 29 January 2022
It's rural agriculture land or urban ?
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On 29 January 2022 at 17:49
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3 Points Posted on 29 January 2022

Rural area agricultural land.

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On 29 January 2022 at 17:50
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Chief Accountant
3150 Points Posted on 29 January 2022
Agricultural land in Rural Area in India is not considered a capital asset. Therefore any gains from its sale are not taxable
It's exempt
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On 29 January 2022 at 17:53
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Profession Business
28207 Points Posted on 29 January 2022
Rural has different implications .
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On 29 January 2022 at 17:54
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Chief Accountant
3150 Points Posted on 29 January 2022
Sale of Rural agriculture land is exempt from tax
1 Reply
On 29 January 2022 at 17:56
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Profession Business
28207 Points Posted on 30 January 2022
It is not a capital asset. So no capital gain on transfer of capital asset.
So it is exempted.
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On 30 January 2022 at 07:11


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