Tag Archives: sale of agriculture land

Income Tax on sale of agriculture land : Analysis

By | March 27, 2019
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Income Tax on sale of agriculture land Sale of agriculture land situated in Rural Area Following land is agriculture land in rural area and is not capital asset as per section 2(14). Thus no tax is payable on sale of agriculture land :- Land situated in area within the jurisdiction of a municipality (whether known as municipality, municipal… Read More »

Income Tax Exemption to Capital Gains on Sale of Agriculture Land

By | June 15, 2018
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EXEMPTION TO CAPITAL GAINS ON SALE/ TRANSFER OF AGRICULTURAL LAND [As amended by Finance Act, 2018] Introduction A farmer wants to shift his agricultural land for certain reason and hence he sold his old agricultural land and from the sale proceeds he purchased another agricultural land. In this case the objective of the seller was… Read More »