capital gain

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....apital gain<br> Query (Issue) Started By: - ajay sajwan Dated:- 12-8-2014 Last Reply Date:- 13-8-2014 Income Tax<br>Got 2 Replies<br>Income Tax<br>namaskar, an agrivultural land is sold by dividing i....

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....t into three parts and as a result three registered deeds were made..is this liable to capital gain.? Reply By SANJAY DAVE: The Reply: If this land is an agriculture land within meaning of section 2....

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.... (14)(iii) of the IT Act, 1961, and continues to remain so even after division in to 3 parts, then there will be no capital gains tax since it will not fall under definition of term Capital Asset u/s ....

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....2 (14) of the Act. U/s 45 CG are chargeable on transfer of a Capital Asset only. Reply By kiran kumar: The Reply: where the agricultural land is situated ? is it rural agri land or urban agri land? ....

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....if rural agri land no capital gain will attract.<br> Discussion Forum - Knowledge Sharing ....