Sale of Agricultural land

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..... Sale of Agricultural land
Query (Issue) Started By: - deepak gulati Dated:- 20-11-2011 Last Reply Date:- 30-11-2011 Income Tax
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Income Tax
If on sells Agricultual land ( not a .....

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..... capital asset being situated beyond 8km from municpility and population less than 10000 ), but sale deed is prepared as Industrial land ( to save stamp duty on purchase of land for industry as per sta .....

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..... te policy). Whether sale of land will be exempt or not ? Reply By Amit Sharma: The Reply: Industry can be established at any area i.e. may be rural area or urban area. Further you have sold agricultu .....

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..... re land which is not a captial assets for the purpose of capital gain. Generally registry done by purchasing party not by selling party. If documents or khatedari of land shows that it is a agricultur .....

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..... e land which situated at rural area ( as specified in Income Tax Act) then you can claim exemption.
Discussion Forum - Knowledge Sharing .....

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