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Capital Gain

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(Querist)
17 September 2008 One Private Limited Company has acquired another Private Limited company which has different assets and that includes Agricultural Land.

My Question is wether the purchasing company will have to pay the Capital Gain tax? Please reply.......
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
17 September 2008 On agricultural lands used for agricultural purposes satisfying the conditions of section 2(14) capital gain tax is not applicable.

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