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Capital gain

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(Querist)
14 August 2012 MY CLINET HAS PURCHASE AGRICULTURE LAND AND SOLD WINTH IN ONE MONTH.

ANY TAX LIABILITY ARRISES ON THE ABOVE TRASACTION ?
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U S Sharma

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U S Sharma (Expert)
14 August 2012 agri land is not capital asset, so no tax implication.
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srinath

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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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