Question And Answer
Subject: I am holding rural agricultural land since before 2001. Now I have converted such land as NA land and sold it. My question was which value I should consider for 2001 ? Agriculture land value or NA land Value ?
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Querist: Munjal Modi
Answered by:
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Date: May 21, 2023
Query asked by Munjal Modi

I am holding rural agricultural land since before 2001. Now I have converted such land as NA land in December 2022 and sold it in March-2023. In which amount I have to pay tax ? If I am allowed indexed cost then My question was which value I should consider for 2001 ? Agriculture land value or NA land Value ?

Circle Value of land as on 01-04-2021 is 200 Rs for Agricultural land and Rs. 1000 for Non Agricultural Land. Circle rate of NA Land as on Dec-2022 is 3550 and I have sold it at Rs. 3700 in March-2023.

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You can consider the stamp duty value as on the date of conversion of the rural agricultural land to non-agricultural land and index accordingly .In case stamp duty value is not available you may get the valuation done by the Registered Valuer .



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One comment on “I am holding rural agricultural land since before 2001. Now I have converted such land as NA land and sold it. My question was which value I should consider for 2001 ? Agriculture land value or NA land Value ?
  1. Vinay Simha says:

    Dear Sir, Is there any case law supporting your view.

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