capital gain
This query is : Resolved
02 July 2009
in which situation agricultural land is not considerd as capital asset?
02 July 2009
Hi,
Refer sec. 10(14)(iii) of the IT Act.
Agricultural land in india, not being land situate -
(a) in any area which is comprised within the jurisdiction of a muncipality or a cantonment board and which has a population of not less than ten thousand according to the last preceding census of which the relevant figures have been published before the first day of the previous year; or
(b) in any are within such distance, not being more than eight kilometres, from the local limits of any muncipality or cantonment board referred to in item (a) , as the central government may, having regard to the extent of , and scope for, urbanisation of that area and other relevant considerations, specify in this behalf.
Refer sec. 10(14)(iii) of the IT Act.
Agricultural land in india, not being land situate -
(a) in any area which is comprised within the jurisdiction of a muncipality or a cantonment board and which has a population of not less than ten thousand according to the last preceding census of which the relevant figures have been published before the first day of the previous year; or
(b) in any are within such distance, not being more than eight kilometres, from the local limits of any muncipality or cantonment board referred to in item (a) , as the central government may, having regard to the extent of , and scope for, urbanisation of that area and other relevant considerations, specify in this behalf.
02 July 2009
agree with the expert
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- STCG FOR GOLD ETFs
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Specified Profession
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- Soyabean hsn code and gst rate
- NON- SUBMISSION OF LLP FORM 3
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
