Agricultural land or not
This query is : Open
26 March 2012
A land is situated in a village area having a population less then 10,000 and 2kms outside from the municipality limits of a big town. Is it an agricultural land or not for the purpose of income tax under capital gain?
27 March 2012
it shoud b located at least 8 KM away from municipal limits.
27 March 2012
its mean it will be taxable? but according to section 10(37) isn't it tax free coz it satifies 2(14)(iii)(a)
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