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Capital Gains

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(Querist)
28 July 2010 is there any charge ofCapital gains on sale of Agricultural land
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srinath

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srinath (Expert)
28 July 2010 if rural agricultural land located in india is sold then no capital gain
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CA.ViVeK M ACA

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CA.ViVeK M ACA (Expert)
28 July 2010 Fact of the cases
Sale of agriculture land

Proviso under the act

If the land situated within urban area then capital gain tax would be attracted. Else no tax

conclusion
Taxability depends upon the location of agricultural land in Rural or urban area
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