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Is there income tax on sale of agricultural land

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 June 2012 We had received an Agricultural Land from my Grandfather in 1977. We have now sold that land. We do not intend to buy Capital Bond or Invest in Buying another property. Is there any Long Term Capital Tax in such a transaction.

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Ca Anand Dubey

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Ca Anand Dubey (Expert)
07 June 2012 Capital gain tax apply depending upon the location of land
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C.A Anshul Singhal

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C.A Anshul Singhal (Expert)
07 June 2012 capital Gain Exempt on agricultural Land Which Is define In income tax
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C.A Anshul Singhal

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C.A Anshul Singhal (Expert)
07 June 2012 capital Gain Exempt on agricultural Land Which Is define In income tax
Agricultural Land define income tax

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