https://www.taxtmi.com/article/detailed?id=17095 Agricultural land outside the prescribed municipal or cantonment limits and aerial-distance criteria is excluded from capital assets under section 2(14)(iii). Agricultural activity or agricultural income is not a stated condition where revenue records classify the land as agricultural, no conversion to non-agricultural use has occurred, and location requirements are satisfied. Profit on transfer of such land is presented as outside income for tax purposes rather than exempt income and as not requiring disclosure in the income-tax return. en-us Tue, 04 Aug 2026 08:40:26 +0530 Tue, 04 Aug 2026 08:40:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=17095 Agricultural land outside the prescribed municipal or cantonment limits and aerial-distance criteria is excluded from capital assets under section 2(14)(iii). Agricultural activity or agricultural income is not a stated condition where revenue records classify the land as agricultural, no conversion to non-agricultural use has occurred, and location requirements are satisfied. Profit on transfer of such land is presented as outside income for tax purposes rather than exempt income and as not requiring disclosure in the income-tax return. Articles Income Tax Tue, 04 Aug 2026 08:40:26 +0530 https://www.taxtmi.com/article/detailed?id=17095