News Topics

Whether income derived from the sale of agricul...

Whether income derived from the sale of agriculture land situated in urban area constitutes agriculture income?

Whether income derived from the sale of agriculture land situated in urban area constitutes agriculture income?

0
Jeeba Lal Jun. 21, 2018

No, any income derived from the sale of agriculture land as a profit or gain on shall not be treated as agriculture income. Rather it is a capital gain or loss and chargeable to the tax under head capital gain.

Whether income derived from the sale of agriculture land situated in urban area constitutes agriculture income?

Ask Question Create News