Hey friends guide me to give knowledge about tax treatment of profit on sale of rural agricultural land..? I know that rural agricultural land is not consider as capital asset, so if it is exempt then in which sectionIi indicate it..? and can I shaw it in ITR Form..?
Please sir reply me as earlier as possible.
Yes as u said its not treated as capital assets consequenlt exempt from tax. It is deifined in defination of 2(14).
How u can show in ITR follow the below link.
/experts/sale-of-agricultural-land-where-to-show-in-itr-form-736630.asp#.UxS2x_mSySQ
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