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Capital Gains on Agricultural Land in India by Anushka Sharma is a document available to read on EtoBox.
What is Capital Gains on Agricultural Land in India about?
Rural agricultural land is not considered a capital asset, so no capital gains or losses arise from its sale or transfer. Urban agricultural land is a capital asset, so capital gains apply. Gains are classified as long-term or short-term based on the holding period. Any capital gains from compulsory acquisition of urban agricultural land are exempt from tax under section 10(37) if certain conditions are met, such as the land being used for agriculture in the prior two years. Section 54B provides exemption f
- Author
- Anushka Sharma
- Language
- EN