capital asset


20 March 2017

whether agricultural land situated in Nepal came in the purview of definition of capital asset under section 2(14).

CA Shubhanshu Jain (Expert)
20 March 2017

Yes, Agricultural Land situated in Nepal comes under purview of capital assets attracting capital gains on sale of same.
As per 2(14), Only Rural Agricultural Land does not comes under purview of capital asset.

sreejith (Querist)
22 March 2017

thank you so much sir

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