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PROFIT ON SALE OF AGRI.LAND

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04 September 2010 PROFIT ON SALE OF AGRI.LAND(EXEMPT CAPITAL GAIN) CAN TREATED AS AGRI.INCOME? WHAT ABOUT TAXATION?
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
04 September 2010 No.

When you are stating it is exempt from capital gains then no question of any taxation. Sale of rural land only is exempt from capital gains.

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