Capital gain

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Querist : Anonymous

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Querist : Anonymous (Querist)
26 September 2015 An proprietor firm situated in rural area has sold it's land and received capital gain amounted to 21 Lac, now such gain is invested in company by way of promoter contribution and company is formed in rural area.
under which section such capital gain can be exempted?????
Please reply urgent
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Amol S Joglekar

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Amol S Joglekar (Expert)
26 September 2015 if the land is rural land, then only it is exempt otherwise the gain is taxable.
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Querist : Anonymous

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Querist : Anonymous (Querist)
28 September 2015 what if the land is the non agricultural land then is it taxable or not??????????
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Amol S Joglekar

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Amol S Joglekar (Expert)
28 September 2015 If it is urban land, then the capital gain is taxable subject to however, the applicable exemptions.
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Querist : Anonymous

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Querist : Anonymous (Querist)
29 September 2015 Ya getting it but whether there are anu exemption available or not i m asking for that?
please it's urgent
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Amol S Joglekar

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Amol S Joglekar (Expert)
29 September 2015 you can invest in capital gain BONDs
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