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(Querist)
14 December 2011 Sir please tell me
One of my freinds sold and land for rs 15 laks.And same amount he deposited in specified bank will he get exemption
And he also earn bank interest on deposited on 15 lakh Now my question is Wheather interest recevied from bank is capital gain
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Guest (Expert)
14 December 2011 1. Exemption will be available under section 54.

2. Interest received from bank is not capital gain, In is Income from other sources.
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altaf

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altaf (Querist)
14 December 2011 THank you sir
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