Section under which Transfer of Rural Agricultural land
This query is : Resolved
01 September 2009
Hello all,
I would like to know under which section the transfer of rural agricultural land is exempted whether we would have to treat as agricultural income.
I would like to know under which section the transfer of rural agricultural land is exempted whether we would have to treat as agricultural income.
02 September 2009
SECTION 2(14) EXEPTION NO. 3 DEFINES RURAL AGRICULTURAL LAND, AND SUCH LAND IS NOT CONSIDERED AS CAPITAL ASSET AND HENCE NOT TAXABLE.
refer section 2(1A)c
refer section 2(1A)c
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