Is short term capital gain araising on transfer of an agricultural land taxable? If so is there any exemption for the same?
Is short term capital gain araising on transfer of an agricultural land taxable? If so is there any exemption for the same?
i think it is exempt from income tax .... no tax is applicable on agricultural land...
IF Agricultural land situated in urban area,taxable.and if u invest this money to purchase the agricultural land(urban,rural) ,then amount is exemted u/s 54B.
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