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Capital gain

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(Querist)
01 March 2016 Capital gain of sale of agriculture land by a company
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CA CMA CS Ram Pavan Kumar Melam

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CA CMA CS Ram Pavan Kumar Melam (Expert)
02 March 2016 Sale of rural agricultural land is exempt from tax. It should have been held as an 'investment asset' or 'fixed asset' and not as a 'stock-in-trade'. Sale of stock in trade is taxable under the head 'PGBP'.

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