CA Vaishali Nanavati (CA) (43 Points)
03 March 2014Hey friends guide me to give knowledge about tax treatment of profit on sale of rural agricultural land..? I know that rural agricultural land is not consider as capital asset, so if it is exempt then in which sectionIi indicate it..? and can I shaw it in ITR Form..?
Please sir reply me as earlier as possible.
CA Saroj Kumar
(Keen to learn something new every moments)
(2588 Points)
Replied 03 March 2014
Yes as u said its not treated as capital assets consequenlt exempt from tax. It is deifined in defination of 2(14).
How u can show in ITR follow the below link.
/experts/sale-of-agricultural-land-where-to-show-in-itr-form-736630.asp#.UxS2x_mSySQ
CAclubindia
