Sale of agriculture land not covered u/s 2(14)(iii)

subhash bajpai (Querist) 29 September 2013 This query is : Resolved
Dear Friends,
Please advise if I have sold an agricultural land not covered u/s 2(14) of Income tax Act, should I disclose the same in my income tax return? and if I show it in my income tax return where should I claim exemption? I file form 3 (ITR3) as my income is from salary and share of partner ship firm.

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R.K Nanda (Expert) 29 September 2013
CONTACT TAX LAWYER.

Rajendra K Goyal (Expert) 29 September 2013
Consult your tax consultant.

Raj Kumar Makkad (Expert) 29 September 2013
You shall have to show it in your ITR and at the same time, the income shall not be counted as taxable income as entire income/receipt shall be exempted.

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