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    Question

    Section 54(b) of the Income Tax Act, 1961 refers

    to:
    A Capital gain on transfer of land used for residential purposes Correct Answer Incorrect Answer
    B Capital gain on transfer of land used for agricultural purposes Correct Answer Incorrect Answer
    C Capital gain on transfer of land acquired by the government Correct Answer Incorrect Answer
    D Capital Gains on transfer of commercial land Correct Answer Incorrect Answer

    Solution

    The correct answer is B

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