{"id":52158,"date":"2025-03-19T18:29:48","date_gmt":"2025-03-19T12:59:48","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=52158"},"modified":"2025-03-19T18:29:48","modified_gmt":"2025-03-19T12:59:48","slug":"rural-agricultural-land-converted-into-residential-land-then-sold-as-residential-land","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/rural-agricultural-land-converted-into-residential-land-then-sold-as-residential-land\/","title":{"rendered":"Rural agricultural land converted into residential land &amp; then sold as residential land"},"content":{"rendered":"<div class=\"row\">\n<div class=\"col-md-9\">\n<div id=\"parent\"><span class=\"msgcontent xs_font dont-break-out\">An assessee bought a rural agricultural land in 2011-12 as it is a rural agricultural land it does not classify as a capital asset, As on today&#8217;s date i.e. 19\/03\/2025 rural agricultural land only. Suppose he converts the land to a residential land on 01\/04\/2025 (It will classify as a capital asset) and sell the whole set of Residential land in 2025-26 only.<\/span><\/div>\n<div><span class=\"msgcontent xs_font dont-break-out\"><br \/>\nQuery: What would be the period of holding, would it classify as LTCG or STCG? (As the assessee is not in the business of Real Estate or developing or selling of land and not having any more of such projects we won&#8217;t be taking this income in the head PGBP)<\/span><\/div>\n<\/div>\n<\/div>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[1275],"qa_category":[23],"qa_tag":[24,623,455,1294],"class_list":["post-52158","qa","type-qa","status-publish","hentry","qa_expert-law-intern","qa_category-income-tax","qa_tag-capital-gains","qa_tag-long-term-or-short-term","qa_tag-period-of-holding","qa_tag-rural-agricultural-land"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/52158","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=52158"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=52158"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=52158"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=52158"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=52158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}