Agricultural land sold
This query is : Resolved
23 July 2016
Dear Sir,
My one client has received agricultural land in inheritance in 1970. As on today this agricultural land is sold by him Rs. 1.02 Crore. Agricultural Land is situated in rural area. So can you tell me on sale of this agricultural land capital gain tax is applicable or not? 1% TDS is required to deduct or not?
Please reply as early as possible.
My one client has received agricultural land in inheritance in 1970. As on today this agricultural land is sold by him Rs. 1.02 Crore. Agricultural Land is situated in rural area. So can you tell me on sale of this agricultural land capital gain tax is applicable or not? 1% TDS is required to deduct or not?
Please reply as early as possible.
23 July 2016
you may check reply given at following link, if it covers your problem :-
https://www.caclubindia.com/experts/sale-of-rural-agricultural-land-2350284.asp
https://www.caclubindia.com/experts/sale-of-rural-agricultural-land-2350284.asp
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