capital asset

Chinay Solanki (Chartered Accountant) (242 Points)

06 March 2010  

i have doubt.... plz help.....

rural agriculture land is not a capital asset as per d definition of capital asset....

but it specifies that upto 8 km from the municipality limit......

i just want to enquire whether this 8 km is fixed or it vairies from place to place......

reply sooon