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Income Tax - Frequently Asked Questions (FAQs) |
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FAQs on Exemption available from Capital gains |
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What is considered an "urban area" for the purposes of Section 54G? |
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Ans. An "urban area" is any area within the limits of a municipal corporation or municipality that the Central Government declares as an urban area for the purposes of Section 54G. The Central Government makes this determination based on factors such as population, concentration of industries, and the need for proper planning of the area. |
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