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disclosure of exempt capital gain

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(Querist)
09 January 2010 if agricultural land is sold and capital gain arising from such land is exempt then where to disclose such exempt income?
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M Prabhakar Menon

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M Prabhakar Menon (Expert)
10 January 2010 (a) Include it in the computation and calculate the tax thereon; (b) calculate the tax on the exempt income as is done for those haing agl income and (c) deduct (b) from (a) the balance is the tax liability.
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