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Capital Gain

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(Querist)
13 October 2008 sale of rural Agriculture land is exempt under which setion covering all the said criteria
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
14 October 2008 Sir
As per section 2(14) rural agricultural land is not a capital asset and hence no capital gains liability.
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CA. AMIT AGARWAL

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CA. AMIT AGARWAL (Expert)
14 October 2008 I agree with the above view that since rural agricultural land is not a capital assets as per Sec 2(14), hence no question of capital gain or loss arise
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CA Vijay V Kodmur

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CA Vijay V Kodmur (Querist)
15 October 2008 Wheather Profit arising under said transaction is taxable or exempt

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