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Acquisition of agriculture land by government

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(Querist)
20 November 2018 Hello,

Ancestor agricultural land is acquired by government and money is received by children. So, as it is agricultural land still we have to calculate capital gain on it or it will be exempted income as it is sale of agricultural land.

please revert urgently.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
20 November 2018 it will be exempt from any taxation.
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CA Raj Patil

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CA Raj Patil (Querist)
20 November 2018 which means I don't have to keep the money in government Bond's for 3 years as well. Right
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
20 November 2018 no, you dont have to.....

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