Village property sale

one property sold out situated in village as agriculture land which was inherited by assessees. Sale deed of this property is not available as same was purchase by their forefather. property was sold out on December 2023 and sale receipts was receive in their bank accounts.hiw can I deal with for tax purpose.
Replies (6)
Quick Summary
This discussion concerns the tax implications of selling inherited agricultural land situated in a village. The property was sold in December 2023, but the original sale deed is unavailable as it was purchased by a forefather. The key question is how to address this for tax purposes. Advice suggests that if the land is classified as rural agricultural land, it may be exempt from capital gains tax.

Ok but seems so obvious

Check if it is Rural agricultural land by measuring areal distance from nearby city/town. If so, there will be no tax liability over it.

Agricultural land in rural area if sold not subject to long term Capital gain tax.
Ok sir thanks all of you for your guidance.

You are welcome...                  

It's rural agricultural land

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
15 October 2026
Senior Accountant

Continental Belting Pvt Ltd

Mumbai

B.Com

View Details
Company
10 October 2026
Accounts Associate Level 1

Abic and Mani Chartered Accountants

Kottayam

B.Com

View Details
Company
ARTICLESHIP 28 October 2026
Article assistants

Shyam S Gupta and Company

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 17 October 2026
Articled Assistant

RRPM & Associates LLP

Chennai

CA Inter

View Details
Company
ARTICLESHIP 29 October 2026
Article Assistant (CA Inter / CMA Inter) - Thrissur

Varma Raja & Associates

Thrissur

CA Inter

View Details
Company
14 October 2026
Asst. Manager/Dy Manager (Costing)

manufacturing

Pune

CMA

View Details
Company
Featured 29 October 2026
Accounts Executive

Synergy Keystone

Chennai

B.Com

View Details
Company
07 October 2026
Senior Account Manager

Amplio Invest

Mumbai

M.Com

View Details