Just a moment...

Report
ReportReport
Welcome to TaxTMI

We're migrating from taxmanagementindia.com to taxtmi.com and wish to make this transition convenient for you. We welcome your feedback and suggestions. Please report any errors you encounter so we can address them promptly.

Bars
Logo TaxTMI
>
×

By creating an account you can:

Report an Error
Type of Error :
Please tell us about the error :
Min 15 characters0/2000
TMI Blog
Home /

Capital asset

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

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

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....f 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). It....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... 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 not....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... 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 m....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e 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 AGRAWAL....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

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