- Home Page

Income Tax Exemption under Section 10(37) of Income Tax Act, 1961


Eligible Assessee

Individual or HUF


Nature of Income

Capital gains arising out of sale of agricultural land


Amount Exempt

Entire gain




Conditions laid down for Tax Exemption u/s 10(37)

  1. The land is situated in area as referred to in section 2(14)(iiia) or 2(14)(iiib)

  2. Such land was used in previous two years from the date of transfer for agricultural purpose by the assessee or his parents

  3. Transfer is by way of compulsory acquisition or consideration or enhanced consideration of which is approved by RBI or Central Govt.

  4. Such income arises on or after 1.4.2004

HOME  About Us   Contact Us   Disclaimer   Privacy Policy