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IS CAPITAL GAIN EXEMPTED ?

This query is : Resolved 
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(Querist)
21 July 2010
MR. A SELL A LAND IN RURAL AREA AT A CAPITAL GAIN OF RS. 10 LACS

MY QUERY IS >

WILL IT BE EXEMPTED AS IT IS IN RURAL ??

OR

IF LAND IS AGRICULTURAL WILL THE ANSWER CHANGES ?

OR

IF LAND IS IN URBAN AREA AND AGRICULTURE WILL IT BE EXEMPTED ??

PLEASE ANSWER SEPRATELY
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srinath

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srinath (Expert)
21 July 2010 only rural agricultural land located in india is exempt... rest all are taxable.

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