Do my father have to pay income tax on agricultural land sale money ?

POSTED BY hjkhan ON April 17, 2014 1:43 pm COMMENTS (2)

My father wants to sell some agricultural land in his native place. Does he have to pay some tax on the income from this transaction? Is there a problem if he receives the entire amount through cheque in his bank account? Can he buy a flat with this amount? He already has a flat in his name in Delhi.

Also I have applied for a group housing scheme flat. Can my father pay for this flat, which is going to be in my name, from the income from his agricultural land?

2 replies on this article “Do my father have to pay income tax on agricultural land sale money ?”

  1. hjkhan says:
    April 21, 2014 at 1:14 pm

    It is indeed agricultural land. Thanks for the answer.

    Reply
  2. ashalanshu says:
    April 17, 2014 at 9:34 pm

    Dear HJKhan, first you need to prove that the land in question is agriculture land. If it’s agriculture land, your father does not need to pay any tax.

    Thanks

    Ashal

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.