Whether Sale of Flat or land in A Society Liable to Capital Gains?

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I was working in an Engineering Co. and retired in April 2006. Hence presently I am a retired person.I became a member of a Housing Society in the year Oct. 1979 a plot was allotted to me on 10th March 1988. The total amount paid by me till March 1988 was Rs. 7205/.Now I have…

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