Capital Gain
This query is : Resolved
CA Vijay V Kodmur
(Querist)
13 October 2008
sale of rural Agriculture land is exempt under which setion covering all the said criteria
14 October 2008
Sir
As per section 2(14) rural agricultural land is not a capital asset and hence no capital gains liability.
As per section 2(14) rural agricultural land is not a capital asset and hence no capital gains liability.
CA. AMIT AGARWAL
(Expert)
14 October 2008
I agree with the above view that since rural agricultural land is not a capital assets as per Sec 2(14), hence no question of capital gain or loss arise
CA Vijay V Kodmur
(Querist)
15 October 2008
Wheather Profit arising under said transaction is taxable or exempt
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