Sale proceeds of rural agricultural land- income from other sources?
catherine (CA Final student) (41 Points)
21 December 2015catherine (CA Final student) (41 Points)
21 December 2015
Ankit Taprania
(CA FINAL )
(542 Points)
Replied 21 December 2015
You are not require to show it in return at all .
you yourself have said that it is exempt capital gain then how can it be income other sources.
NO, it can't be assessed under the head Income from Other sources
REMEMBER when rural agriculture land is held as stock in trade it is not capital gain but it will be chargeable as PGBP.
Ankit Taprania
(CA FINAL )
(542 Points)
Replied 21 December 2015
even if you want to show you can show in column "others" as there is on specific column .
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)