Capital asset

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..... Capital asset
Query (Issue) Started By: - Vijay Maheshwari Dated:- 19-2-2009 Last Reply Date:- 24-2-2009 Income Tax
Got 3 Replies
Income Tax
Whether Land situated in Nagar Panchayat Area .....

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..... of which population is less than 10000 would be capital asset. Please note that name of this Nagar Panchayat is not given in Notification No.9447 dated 06.01.1994 issued under Section 2(14)(iii)(b). I .....

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..... t is also away for more than 8 kms. from the nearest Municipal Corporation given in the aforesaid notification. Regards CA Vijay Maheshwari Please give Reply By Sachin Agarwal: The Reply: Merely no .....

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..... t notified in the notification does not mean that it become capital asset. fundmentally it does not fall under the definition of the Capital Asset u/s 2(14). If do you want to know more, please write .....

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..... me on the email id Sachinagarwalcallb@gmail.com Reply By Sunil Jain: The Reply: In my opinion Land any way is an capital asset whether it is in the municipal limits or not. Reply By CA GOPAL JI AGRAWA .....

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..... L: The Reply: In my view, if the land is agricultural in the instant case,then it would not be capital capital asset.
Discussion Forum - Knowledge Sharing .....

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