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.
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