if assessee sold a plot (i.e. RURAL land/plot) (but not a agriculture land) .. in that case is it capital assets or not u/s 2(14) ?
vikash mangal
if assessee sold a plot (i.e. RURAL land/plot) (but not a agriculture land) .. in that case is it capital assets or not u/s 2(14) ?
vikash mangal
Dear Vikash.........
Transfer of Rural agricultural Land is Exempt from tax and not simply Rural Land.........
Transfer of Rural Land is therefore taxable as it is a capital asset u/s 2(14)..........
CAclubindia
