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Income Tax - Highlights / Catch Notes

Home Highlights April 2021 Year 2021 This

Nature of land sold - Agricultural land - the land in question ...

Income Tax

April 2, 2021

Nature of land sold - Agricultural land - the land in question of the assessee was situated beyond 8 KM from the municipal limits of Jaipur and was being used for agricultural purposes and was thus outside the scope of Section 2(14) of the Act and therefore, any gain on sale of the said land is exempted from tax. - AT

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