What shud b the treatment for sale of agricultural land ???

ITR 1219 views 2 replies

what shud b the treatment for sale of agricultural land ???

 

where shud i show it in ITR 4??

 

it is an agricultural land u/s 2(14)

Replies (2)

Tax Treatment on sale of agricultural land
a) Capital gain on sale of rural agricultural land = Not a capital asset u/s 2(14).
b) Capital gain on sale of urban agricultural land
i. Compulsory acquisition = Exempt from tax u/s 10(37) [provided some conditions are satisfied]
ii. Others = Exemption u/s 54B is available if he purchases other agricultural land.

 

Source: https://www.cabible.com/forum/showthread.php/3388-Income-tax-treatment-for-sale-of-agricultural-land

 

Am not aware of where it wud be shown in ITR 4.

Ya Agree with Carpe


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register