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Ltcg applicability

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(Querist)
06 May 2013 Dear Expert,

An assessee has agricultural land situated beyond 8 kms from nearest town and this place has a population of less than 10,000. Will Long term capital gains be applicable on the sale of this land?
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Pradeep Agarwal

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Pradeep Agarwal (Expert)
06 May 2013 NO IT IS NOT A CAPITAL ASSET

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