Sale of agircultural land

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

25 March 2015 Dear Sir

I have an issue with regards to sale of Agircultural land.

Our land is in Kerala in a small village with a population of about 13000 as per recent census.

The Municipal office is about 8-9 Kms

If we sell this land is there tax payable under capital gains?

Please reply anyone

GULRAJ AILANI

GULRAJ AILANI (Expert)
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25 March 2015 If agriculture land is within 2kms from muncipal limits then capital gain tax will be applicable.
See where the muncipal limit is ending

Querist : Anonymous

Querist : Anonymous (Querist)

26 March 2015 The Municipal office is about 8 KMS from our land. I can assume its not taxable in that case?

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