AGRICULTURAL LAND

Discussion in 'Income Tax' started by siri:5, Jan 29, 2016.

  1. siri:5

    siri:5 New Member

    Sir,
    i have a query
    Agricultural land exempt u/s 2(1A) of the income tax act,1961 , will it be taxable in the hands of buyer for acquiring such land (which is not a capital asset) for inadequate consideration u/s 56(2) under income from other sources.
     
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