Mr.M sold his agricultural land in rural area and purchased a Residential house
pls clarify me with the deductions and capital gain araising there to
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Capital gain
Replies (4)
Agricultural land in RURAL area is not capital asset, hence no capital gain. No tax liability.
agreed with dhirjlal
agreed with dhirajlal sir
agricultural land in rural area in India is not considered as a Capital Asset therefore any gain from its sale are not taxable under the head capital gain
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