If Agriculturist hold 10000 sq m. inheritance Agriculture land since 1981 and he converted into Non agriculture land in june 2018 (6000 sq m for plot and 4000 sq m alloted for town planning and comman plot ).
In June 2019, he has Sold all the plot(6000 sq m) for 5 lakh.
Which type of tax liability (Business Income ,STCG or GTCG ) arise on Agriculturist if he has only agriculture income.
Taxability on Conversion of Inheritance Agri. land to Non agri and sale.
incometax return (9 Points)
08 October 2019
CAclubindia
