Income Tax 4 August 2026
Agricultural Land Tax Relief
The Indian government has clarified that agricultural land is exempt from capital gains tax under Section 2(14), a key legal position that affects many farmers and landowners, and recent updates include an extension on the due date for return filing, with new options like the SBI 444-day FD offering higher returns than regular FDs in a short duration
A recent update has clarified the tax position on agricultural land in India. *Key points* include:
- No capital gains tax on agricultural land under Section 2(14)
- Due date extended for return filing, giving more time to file taxes
- New options like the SBI 444-day FD offer higher returns than regular FDs in a short duration
The Indian government has taken steps to provide relief to farmers and landowners by exempting agricultural land from capital gains tax. This move is expected to benefit many in the agricultural sector.
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