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Capital gain (Income Tax)

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This query is : Resolved


( Author )
14 August 2012

 MY CLINET HAS PURCHASE AGRICULTURE LAND AND SOLD WINTH IN ONE MONTH.

ANY TAX LIABILITY ARRISES ON THE ABOVE TRASACTION ?


U S Sharma

( Expert )
14 August 2012

 agri land is not capital asset, so no tax implication.


srinath

( Expert )
14 August 2012

 If agricultural land is situated in India, there would not tax implications on sale of the land



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