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The Economic Times

Personal Finance / The Economic Times

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Buying agricultural land near a city? Key income tax rules you must know

An ITAT ruling clarified that stamp duty valuation doesn't define agricultural land status for income tax. The tribunal emphasized that official revenue records, actual cultivation, and lack of formal conversion are key factors. This decision protects buyers from tax additions based solely on higher urban land stamp duty rates.

11 Apr 2026 10:43 am