the urban land is taxable or not?
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No the urban land is not taxable
salman971:
rural land is not taxable.but urban land is taxable? why?
sorry I didn't know
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Agricultural land in Rural Area in India is not considered a capital asset. Therefore any gains from its sale are not taxable under the head Capital Gains. ... Under Section 10(37) of the Income Tax Act, Capital Gains on compensation received on compulsory acquisition of urban agricultural land is exempt from tax.
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