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capital gains

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(Querist)
28 June 2011 pls tell me if i buy agriculture land which is 8 kms away from population of 10000 and sell in 6 to 12 months and do not invest any where is it taxable
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CA SANKAR 07904743649

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CA SANKAR 07904743649 (Expert)
28 June 2011 you mean urban agriculutre land . It is covered under the definition of Capital Asset.

Any sale of capital asset during the previous year , it is subject to Capital gains.

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