Land Selling
I have sold out my agricultural feild to a person. My Income will be taxable or not.
Asked on 8/04/08, 8:39 am
2 Answers from Attorneys
Homi Maratha
N.N. Maratha & Co.-Advocates
Re: Land Selling
No your income wont be taxable if and only your land is situated about 12 kms away for the city municipal limits.
Answered on 8/05/08, 12:34 am
Rohini Kumar Tenneti
R.K.1080 LEGAL SERVICES
Re: Land Selling
no,provided if the agricultural land is situated 12 kms away from the municipal limits.The land conditionally should be under the process of continual tilling,sowing,etc.
Answered on 8/04/08, 11:21 am
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