Exemption of plot situated in rural area, Income Tax

[Jasbir Uppal]

Dear professionals,

Can we avail the exemption on sale of land which is situated within 15Kms from the jurisdiction of the Municipality and the nature of property in the revenue record as "BHED"(a land which can't be used for agricultural purposes and commercially/residential)?

If any legal pronouncements/case laws kindly mention.

Thanks & Regards

J S Uppal

Posts / Replies

[Neekita Jindal]

Hello Sir

There is no tax on sale of a rural agricultrural land. It should be situated beyond 8 kms from the municipality. Kindly confirm whether your land fall in the given criteria.