Tax on Sale of Agricultural Land after N.A.

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  1. Chintan Hirapara

    Chintan Hirapara New Member

    Dear Sir!
    I want to know whether Capital Gain arise on Sale of Agricultural Land situated in rural area(around 15 kms from city) after doing Non Agriculture (N.A.) on which tax @1 % is deducted by the buyer and land was used by seller for Agricultural purposes.
    Also it was inherited by him from forefathers
     
  2. Capital gain tax is not applicable on sale of agriculture land.
    And why the tds of 1% deducted by buyer.. Provision of section 194IA is not applicable on agriculture land.
     
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