Nikhil Vekariya (Article Assistant) (81 Points)
14 September 2012Dear all,
| Capital Gain arising on the sale of Urben agricultural land: | |
| Capital Asset is | |
| - | Long Term. |
| - | Used for Agricultural Purpose for more then 2 Years. |
| - | Sale of asset after doing Ploting in the Land. |
| Is the Capital Gain arising on such asset is liable to Tax or not ? | |
| Please Guide for the same … | |
| Thank You. | |
CA Manish
(Job)
(5264 Points)
Replied 14 September 2012
Urban Agricultural land is a capital asset. Therefore gain arising on sale will be taxable.
Vaibhav K
(Self Employed)
(39 Points)
Replied 14 September 2012
@*CS Siddharth Bumb. *
(B.Com, CA Final, CS )
(5270 Points)
Replied 15 September 2012
| Originally posted by : CA Manish Malu | ||
 |
Urban Agricultural land is a capital asset. Therefore gain arising on sale will be taxable. |
 |
CAclubindia
