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Municipal limits to be considered inder it act

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(Querist)
12 December 2012 plz mention the municipalities and areas notified in tamil nadu by Income tax Authority for giving exemption to CG on sale Agri Land.
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Mohit Naithani

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Mohit Naithani (Expert)
14 December 2012 Any capital gain arrise by sell of Rural agriculture land is expempt form tax.
Rural Agriculture land mean:
1. Any area not having population 10000 or more according to last cencus

2. Any area beyond 8 Km from the local limit of muncipality.

The above mention rule is centralize and not limited by state..

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