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Tax nLiabilitiy

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(Querist)
03 December 2010 If a person wants to sale his/her agricultural land(which is situated in rural area) for Rs. 1cror. what will be the tax laibility of that person?
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
03 December 2010 No tax liability.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
03 December 2010 If sale of land is in rural area as per Income Tax act then no liability.
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