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Issue ID : 116943

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Transfer of Rural Agriculture Land

How to Report Transfer of Rural Agricultural Land in ITR: Consideration vs. Gain, Indexation Tips

Shubham Kansal · 2021-01-05T12:50:50+05:30

A user inquired about reporting the transfer of rural agricultural land, not classified as a capital asset, in their Income Tax Return (ITR). The transaction appears in form 26AS as a Specified Financial Transaction (SFT). They sought advice on whether to report the consideration received or the gain from the transfer and whether indexation should be applied in calculating the gain. An expert advised consulting with professionals for a detailed analysis.

05 Jan 2021

1 Answers

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Shubham Kansal

Dear Experts

Mr A transferred a Rural Agriculture Land (not being a Capital Asset), and the same transition is reflected in 26AS as SFT Transaction, how to report the same in ITR.

If the same is required to report in ITR form, how to report the same consideration received or gain on such transfer.

How to calculate the gain on transfer, with applying Indexation or not?

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Old Query - New Comments are closed.

DR.MARIAPPAN GOVINDARAJAN

Replied on Mar 3, 2021

Since it is to be analyzed in detail please consult with the professionals.

Old Query - New Comments are closed.

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