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Sale of agriculture land by a company

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10 March 2012 Dear CCI Members,

my Campany sale Agriculture Land (Markanam- Tamilnadu) on 12/02/2012 which Gain is 36.5 crores is taxable or not. how and which manner and section

10 March 2012 Section 2 (14) define the capital assets for the purpose of capital gain. The Rural Agriculture Land is exempt in definition itself hence not taxable as capital assets.

Only Rural agriculture land is exemption not urban agriculture land.



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