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Sale proceeds of agriculture land
sale proceeds of Rural agriculture land taxable under it Act
Replies (2)
If it is rural agricultural land, then its proceeds exempt under section 10(1)
If it is urban agricultural land then it is taxable under the head capital gain (if it is not your stock in trade) otherwise it would be taxed under PGBP.
If it is urban agricultural land then it is taxable under the head capital gain (if it is not your stock in trade) otherwise it would be taxed under PGBP.
I endorse the view of Mr rahul
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