Chinay Solanki (Chartered Accountant) (242 Points)
06 March 2010i have doubt.... plz help.....
rural agriculture land is not a capital asset as per d definition of capital asset....
but it specifies that upto 8 km from the municipality limit......
i just want to enquire whether this 8 km is fixed or it vairies from place to place......
reply sooon
Amir
(Learner)
(4016 Points)
Replied 06 March 2010
Dear Chinay,
It varies with respect to diffent areas........
8 kms is the maximum for any area
Sunil Liladhar Kotak
(Manager (F & A))
(2025 Points)
Replied 06 March 2010
not getting your question clearly
but i suppose that one need to measure this 8 KM in each individual case & will very from Place to Place
CAclubindia
