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Tax on sale of agricultural land
by Veera Srivastava on Oct 29, 2007 08:01 PM   Permalink

Dear All,
I am not an agriculturist by profession. I purchased 18 acres of land for Rs.50,000 and sold the same after 11 months of purchase for Rs.22,00,000. Do I have to pay tax on surpulus receipts. How do I come to know weather the land is agricultural or not

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The above message is part of the Discussion Board:
All these incomes are tax-free