Transfer of Rural Agriculture Land

[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?

[DR.MARIAPPAN GOVINDARAJAN]

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

AI Summary

Reporting of agricultural land transfer: clarify SFT-driven disclosure and whether capital gain and indexation apply. Taxpayer transferred rural agricultural land shown as an SFT in Form 26AS and asks whether to report consideration or compute a gain in the ITR and whether indexation applies. The legal issues are: whether such rural agricultural land is a non-capital asset for capital gains purposes (affecting whether any gain arises) and what SFT-driven disclosure and ITR reporting obligations follow if reporting is required. The document does not resolve these questions and advises professional consultation for case-specific analysis and correct reporting and computation.