query regarding how to file return after sale of agriculture land

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  1. sukhchain singh

    sukhchain singh New Member

    hello, I would like to know ,where can I show my income after sale of agriculture land . it is near river and away from population.
     
  2. ZED

    ZED Well-Known Member

    Whether it was a rural agricultural land or an urban agricultural land ,as per the records in municipality?
     
  3. sukhchain singh

    sukhchain singh New Member

    it was a rural agricultural land
     
  4. ZED

    ZED Well-Known Member

    If you are sure that it is a rural agricultural land then you can show the income in schedule EI. The income is exempt.


    Kindly also refer to the following extracts from S.2(14) which defines a capital asset.

    If the land is not covered in a or b, then its a rural agricultural land.

    Following is a CAPITAL ASSET
    (iii) agricultural land in India, not being land situate

    (a) in any area which is comprised within the jurisdiction of a municipality (whether known as a municipality, municipal corporation, notified area committee, town area committee, town committee, or by any other name) or a cantonment board and which has a population of not less than ten thousand; or

    (b) in any area within the distance, measured aerially,—

    (I) not being more than two kilometres, from the local limits of any municipality or cantonment board referred to in item (a) and which has a population of more than ten thousand but not exceeding one lakh; or

    (II) not being more than six kilometres, from the local limits of any municipality or cantonment board referred to in item (a) and which has a population of more than one lakh but not exceeding ten lakh; or

    (III) not being more than eight kilometres, from the local limits of any municipality or cantonment board referred to in item (a) and which has a population of more than ten lakh.
     
  5. sukhchain singh

    sukhchain singh New Member

    I am a salaried person. which ITR I have toUse.
     
  6. ZED

    ZED Well-Known Member

    ITR-2A can be used. Do not use ITR-1.
     
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