Capital gain
This query is : Resolved
06 December 2015
I have sold rural agricultural land in gorakhpur uttarpradesh for Rs. 88 lacs. Payment is received in my 2 bank a/c for rs 40 lacs & rs 48 lacs by neft transfer.but the amount shown in sale deed is rs 39 lacs only.
Whether i should file itr???
Whether i m liable to pay tax??
What will the tax treatment for difference of rs. 49 lacs???
Whether i should file itr???
Whether i m liable to pay tax??
What will the tax treatment for difference of rs. 49 lacs???
06 December 2015
No capital gain tax on sale of rural agricultural land.
You have to file ITR and pay taxes on 49 lacs treating it as other income.
You have to file ITR and pay taxes on 49 lacs treating it as other income.
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