22 December 2009
when i purchased agricultural land it was a rural agriculture land i.e outside 8 km from municipality limit. But when i sold it it came within the municipality limit so whether the capital gain on sale of above mentioned agricultural land be chargeab
22 December 2009
If the land is assessed to land revenue or subject to a local rate assessed and collected by officers of the Government then still it is an agricultural land and capital gains will not be chargeable.
CAclubindia
