A.Dear Client,
Agricultural Land in Rural Areas in India is not considered as capital asset. Therefore, any gains from its sale are not taxable under the head Capital Gains.
As per Section 2(14) of the Income Tax Act, 1961 agricultural land in rural areas does not treated as Capital Assets.
Agricultural Land in Rural Areas in India is not considered as capital asset. Therefore, any gains from its sale are not taxable under the head Capital Gains.
As per Section 2(14) of the Income Tax Act, 1961 agricultural land in rural areas does not treated as Capital Assets.
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A.Dear Sir,
It is purely related to Income Tax cum finance matter. You may please contact any chartered accountant or Auditor otherwise you may be misled.
It is purely related to Income Tax cum finance matter. You may please contact any chartered accountant or Auditor otherwise you may be misled.
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