What is income tax for below transaction ???
For both buyer and seller
If sale of Agri land situated at rural area
Stamp duty valuation 51 lakh
Actual valuation 21 lakh
1 Replies
Kaushal Suthar
(23 Points)
Replied 16 December 2018
sale of agriculture land does not attract transfer under section 2(47), and it is not capital Asset under section 2(14), hence there is no capital gain.
Recent Topics
- Clarity regarding Sec 16(4)
- GST ON HOTEL ROOMS details
- Relief for Delayed Filing of Tax Forms
- Expire stock
- INCOME TAX AY 25-26
- Experienced CA firm for accounting & auditing
- Regarding Perquisite Tax on ESOP - Unlisted Compan
- Casual Taxable Person under GST
- Extended Date of GSTR-1 for the month of July 2020
- NRO Interest - Taxed at source and in Foreign Coun
Related Threads
CAclubindia
