Incometax

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28 July 2012 SALE OF AGRICULTURE LAND WITHIN 1 YEAR IS EXEMPT BEING AGRICULTURE LAND OR TAXABLE. THE LAND IS BEYOND 8 KMS FROM GRAMPANCHAYAT & POULATION IS ALSO BELOW TEN THOUSHAND PLEASE EXPLAIN

28 July 2012 Sale of Rural agriculture land is not taxable.

Rural agriculture land is excluded from the scope of Capital assets u/s 45.

28 July 2012 Yes, I agree to Mohit's view.


Kind regards,
Neha D.




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