Capital gain of land

devang (CA FINAL article ) (181 Points)

13 July 2011

my relative haveing agriculture land who sold at 1 crore also invest this money into another agriculture land...

question is : he want to file return then which ITR applicable ?

it there is capital gain then at wht rate charge or which ITR ?

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8 Replies

Sunshine (Helping All) (10575 Points)
Replied 13 July 2011

ITR 2 needs to be filed...provided its an urban agricultural land

Tushar Arora (CA Finalist & Article) (179 Points)
Replied 13 July 2011

Capital Gain on sale of rural agriculture land is exempt..

he has to file ITR-2 but if the assesse has income from PGBP than ITR-4..

CA ADITYA SHARMA (CA IN PRACTICE ) (16719 Points)
Replied 13 July 2011

ITR 2

devang (CA FINAL article ) (181 Points)
Replied 13 July 2011

thnaks budy

@*CS Siddharth Bumb. * (B.Com, CA Final, CS ) (5270 Points)
Replied 13 July 2011

prefer ITR-2, but if there is rural agriculture land it is exempt...

agree with all

Supriya Barge (PCC student) (21 Points)
Replied 14 July 2011

ITR-2 should be filed.if there is no business income otherwiae ITR-4

Mukesh Kumar Singh (CA-FINAL) (4094 Points)
Replied 14 July 2011

Capital Gain on sale of rural agriculture land is exempt.. he has to file ITR-2 but if the assesse has income from PGBP than ITR-4..

CS,CA F,Numrologi TusharSampat (CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert) (85930 Points)
Replied 14 July 2011

Originally posted by : Tushar Arora
	Capital Gain on sale of rural agriculture land is exempt.. he has to file ITR-2 but if the assesse has income from PGBP than ITR-4..

AGREED.

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