Is short term capital gain araising on transfer of an agricultural land taxable? If so is there any exemption for the same?
Vijay Sarathi H (PARTNER) (562 Points)
10 August 2009Is short term capital gain araising on transfer of an agricultural land taxable? If so is there any exemption for the same?
VARUN
(PCC STUDENT)
(523 Points)
Replied 10 August 2009
i think it is exempt from income tax .... no tax is applicable on agricultural land...
HIMANI
( CA.FINAL STUDENT)
(49 Points)
Replied 11 August 2009
IF Agricultural land situated in urban area,taxable.and if u invest this money to purchase the agricultural land(urban,rural) ,then amount is exemted u/s 54B.
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