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Whether sale of agricultural land attracts capital gain tax

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What is Agricultural Land?  The land where activities such as growing of crops, nursery cultivation etc are being carried out is classified as agricultural land. Sale of agricultural land in urban areas attracts capital gain tax.  Following are considered as Urban Areas –   Land  situated within jurisdiction of a ...

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TDS on sale of immovable property

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Section 194 IA: Payment on transfer of certain Immovable Property other than Agricultural Land (with effect from 01.06.2013) Vide BUDGET 2013, read with Notification No.39/2013 dated 31st May, 2013, a new Section 194-IA was inserted to Income Tax Act, 1961 in the case of transfer of immovable property (situated in India or abroad/commercial or ...

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