09 August 2014
an individual sold his 900 sq Mr agricultural land situated outside municipality area by dividing it in three parts of 300 sq mt. each....will it attract capital gain tax....if yes than how can he minimize his tax burden...
09 August 2014
Agricultural land is excluded from the meaning of capital asset defined u/s 2(14) of IT Act, hence no capital gain on sale of agricultural land.
CAclubindia
