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treatment of sale of rural agriculture land in itr
as rural agriculture land is not a capital asset so there is no capital gain arise on their sale. Reciept from its sale is capital reciept which has no tax treatment. So my query is how to show/disclose reciept from sale of rural agriculture land in income tax return?
Replies (5)
You can declare it under schedule EI.
File ITR 2 and show under EI schedule
good clarification and information
if an assesse is having both business and capital gain he/she should file itr 3, under which Line we have to show gain from sale of rural agricultural land in ITR 3
whether your agriculture land was in ruler area or urban?
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