Income through land sale income implications

SHASHIDHARA SASTRY (retired professor) (26 Points)

10 July 2022  

Very recently I sold my agricultural land for 25,00000/=.

Purchaser paid income tax of Rs. of Rs.25,000/= for assessment year 2023-24.

Now,

1.Should I file ITR for this income

2.Can I claim refund for  this amount.

3. If I have to pay income tax for this income, then how to save it.

Please let me know.

I am new to all these.

 

 

Regards,

 

K.Shashidhara Sastry