What is stamp duty on purchase of agriculture land (more…)
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Assessee had land in dholera. Dholera has population of 2500 peoples. There is no town within 20 kms from dholera (land of assessee) having a having population more than 10000. The government has recently recognized dholera as residential zone and passed town planning. Q - whether the land of assessee will be considered as agriculture land as population of dholera is less than 10000 and whether sale of said land will be taxable? Q - Or whether due to the status of land being residential zone and under town planning, the sale of given land will be taxable Q -…
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is it taxable if purchase of sali land is below the stamp value u/s 56(2)x
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Assessee is an individual and filed the return of Income disclosing income from business and other souces for AY 2014-15. During the year under consideration has also sold agricultural land and profit on sale of the same on the bonafide belief and as per certificate from Talthi that said land is beyond 8 kms from municiple corporation and population of the village is less than 10000. As per mutation entry also crops like ground nut were cultivated. During the course of scrutiny which was selected under Cass for large deposits in Bank, which includes amount received on sale of agricultural…
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What should be the Treatment of conversion cost where agriculture land converted in to stock. The conversion expenses like development of land and government fee for conversion paid first and later the land was converted for non-agriculture purpose. The land is treated as stock after conversion into non-agriculture. While calculating Long Term Capital Gains, the conversion cost and indexed cost of acquisition both be considered? or Only cost of acquisition is considered and cost of conversion will be considered as business expenditure?
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Hello, Please guide as to how we can claim compensation for undivided ancestral land acquired by Govt. for Canal construction. 1. We have ancestral land that remains undivided among my grandfather and his brother and other relatives in our Village. 2. We do not have any land records however we do have possession of the said land. 3. As I'm given to understand in the land records available in the land record portal of Odisha Govt. Lot many people are mentioned in addition to my Grandfather and his younger brother,we do not know who are these people or do not…
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Regarding sale of rural agricultural land i want to know cash receipt of any amt could be deposited in Bank. If so or so not y wt is the reason . Y u k not dep cash received on sale of agriculture land as it is not a income according to capital asset or gain.
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Our is a limited company and has agriculture land in Amritsar, the same has been acquired by NHAI in 2020-2021, will land acquisition officer levy tds on our company before making payments in case of limited company or no tds will be applicable?
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Rural agricultural land purchased as per documents at Rs. 9,00,000/- and DLC rate was 37,00,000/- (Local stamp duty rate). AO made addition of this difference u/s 56(2)(vii)(b). whether AO's action is correct when rutal agricultural agricultural land is not subject to capital gain in thehands of saller. Kindly quote case laws on the subject. Smilar situation is in the A.Y. 2015-16,2016-17 and 2017-18. Kinly guide.
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Ancestral Urban Agri. Land had been converted into NA Land in FY 2017-18 and ultimately sold in FY 2021-22. For the purpose of computing capital gains, while determining COA as on 01-04-2001, whose FMV is to be taken - i.e. applicable to Urban Agri. Land or NA Land? Also whether is it possible to take COA as on the date the Urban Agri. Land was converted to NA Land? Thanks.
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Stamp duty on agricultural land