Capital gain
This query is : Resolved
30 December 2013
ASSESSEE IS NRI (ORIGIN IN INDIA BORN)
CAN NRI HAVE BENEFIT FOR LAND IS NOT CAPITAL ASSETS IF THE LAND WAS OUTSIDE THE MUNICIPALITY TERRITORY LIMIT (IE : 8 KMS)
CAN NRI HAVE BENEFIT FOR LAND IS NOT CAPITAL ASSETS IF THE LAND WAS OUTSIDE THE MUNICIPALITY TERRITORY LIMIT (IE : 8 KMS)
02 January 2014
The definition of capital asset and exclusion of rural land from such definition applies to ALL assessee including a NRI.
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