Tax applicability on rural agricultural land sold
ravi kothari (Article Trainee) (97 Points)
30 May 2016
how to calculate the tax if it is not a capital assets ?????
2 Replies
CA Mithil Munot
(Proprietor Mithil P Munot & Co.)
(341 Points)
Replied 31 May 2016
As the asset is not a Capital Asset it is not taxable. So no question of Tax.
subhash kumar jha
(PROFESSION)
(445 Points)
Replied 31 May 2016
no tax on sale of non capitalal assets.
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