Profit on sale of rural agricultural land.

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 March 2014 Hey friends guide me to give knowledge about tax treatment of profit on sale of rural agricultural land..? I know that rural agricultural land is not consider as capital asset, so if it is exempt then in which section I indicate it..? and can I shaw it in ITR Form..? Please sir reply me as earlier as possible.

Read more at: https://www.caclubindia.com/forum/tax-treatment-of-profit-on-sale-of-rural-agricltural-land-283862.asp#.UxSsMfmSwbu

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
Follow

04 March 2014 Capital gain arising on sale of rural agricultural land is exempted u/s 10(37).

You should show the same under exempt income in the return.

Querist : Anonymous

Querist : Anonymous (Querist)

09 March 2014 Thank you sir giving me your guidence.

Upgrade to CAclubindia Pro. Subscribe Now!

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
Follow

10 March 2014 You are welcome. You should use the thanks button to convey your thanks.