capital asset
This query is : Open
20 March 2017
whether agricultural land situated in Nepal came in the purview of definition of capital asset under section 2(14).
20 March 2017
Yes, Agricultural Land situated in Nepal comes under purview of capital assets attracting capital gains on sale of same.
As per 2(14), Only Rural Agricultural Land does not comes under purview of capital asset.
As per 2(14), Only Rural Agricultural Land does not comes under purview of capital asset.
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