Agricultural land under income tax
This query is : Resolved
18 December 2018
A person has purchased a land situated in rural area. He sold it after 8 years by dividing it into 3 parts.
In sale deed it is mentioned as empty land without any trees or plantations.
Can we consider this land as rural agricultural land? If not, what is the taxation on this land?
In sale deed it is mentioned as empty land without any trees or plantations.
Can we consider this land as rural agricultural land? If not, what is the taxation on this land?
18 December 2018
you will have to depend on the land records. The state of the land on day of sale may not be that relevant.
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