Share
Is there any tax to be paid to government once I sell the agricultural land?if, yes, how much?
Question
once i sell the agriculture land, do i have to pay taxes to the govt..? if yes,h how much?
i live in Karnataka..
Lost your password? Please enter your email address. You will receive a link and will create a new password via email.
Answer ( 1 )
Agricultural land in Rural Area in India is not considered a capital asset. Therefore any gains from its sale are not taxable under the head Capital Gains. … Under Section 10(37) of the Income Tax Act, Capital Gains on compensation received on compulsory acquisition of urban agricultural land is exempt from tax.