Mr. Sukhdev has a agricultural land in village “khera” having population of 16000 as per preceding census. The land will be treated as
A. Capital asset hence gains will be taxable
B. Not a capital asset
C. Capital asset but gains would be exempt
D. Capital asset but losses if any will not be allowed
Answer:A
Mr. Sukhdev has a agricultural land in village “khera” having population of 16000 as per preceding census. The land will be treated as
A. Capital asset hence gains will be taxable B. Not a capital asset C. Capital asset but gains would be exempt D. Capital asset but losses if any will not be allowed