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Agriculture land sale

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(Querist)
30 April 2018 my friend bought Agriculture land in 1996 and 1999 and sold in f.y.2010.is there any tax liabilty or Agriculture land is tax free
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Anmol Davesar

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Anmol Davesar (Expert)
30 April 2018 Agricultural land in Rural Area in India is not considered a capital asset. Therefore any gains from its sale are not taxable under the head Capital Gains
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