PROFIT ON SALE OF AGRI.LAND
This query is : Resolved
04 September 2010
PROFIT ON SALE OF AGRI.LAND(EXEMPT CAPITAL GAIN) CAN TREATED AS AGRI.INCOME? WHAT ABOUT TAXATION?
04 September 2010
No.
When you are stating it is exempt from capital gains then no question of any taxation. Sale of rural land only is exempt from capital gains.
When you are stating it is exempt from capital gains then no question of any taxation. Sale of rural land only is exempt from capital gains.
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