03 March 2023
Dear Sir/Madam, Is there any reporting requirement of Sale of Rural Agriculture land while filing ITR? Because rural Agri. land not a capital asset But any requirement of disclosure in ITR?
03 March 2023
As such not mandatory, but if the sale transaction has been reported by Sub-registrar office to ITD under mandatory reporting, then it is advisable to declare it under exempt income; otherwise query from department is sure.
CAclubindia
