Sale of Agricultural Land

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..... Sale of Agricultural Land
Query (Issue) Started By: - ajay kedia Dated:- 14-11-2013 Last Reply Date:- 19-11-2015 Income Tax
Got 1 Reply
Income Tax
Dear Sirs, Please clarify on the follow .....

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..... ing issue: I purchased dry agricultural land at Janwada Village, Ramchandra Puram Mandal, Medak Dist in the year 2005, in my company name. My Company's main objects are to construct the villas, devel .....

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..... op the plots etc., But, the Government of Andhra Pradesh had declared the area of Janwada under 111 G.O. As per 111 G.O. the constructions are not allowed in the land. Subsequently, I carried out th .....

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..... e agricultural activity in the said land from last 3 years. In the Financial Year 2012-13, we sold the said land. Kindly let me know the profit on sale of agricultural land attracts tax or not? Rep .....

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..... ly By MARIAPPAN GOVINDARAJAN: The Reply: Whether you have got clarified in the above said issue? If not please inform.
Discussion Forum - Knowledge Sharing .....

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