Which capital asset is qualified for section 54B exemption?

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..... mption under this section can be claimed if the capital gain arises from the transfer of agricultural land. It has been mandated that the agricultural land transferred must be used for agricultural pu .....

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..... the exemption is available only on the transfer of urban agricultural land. Rural agriculture land is not considered as a capital asset and thus it is out of the scope of capital gains tax - Manual .....

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