sale of agriculture land

If your agricultural land is in rural area, such land is not treated as Capital asset and hence no capital gain taxes are levied. Agricultural land in Rural Area India is not considered a capital asset. Therefore any gains from its sale are not taxable under the head Capital Gains.

Originally posted by : Harivarma Vegesna
	thanks...if he invested the money got from sale of agriculture land in aqua culture land is it taxable...???

As already mentioned above(by Mr. Vinay Kumar) that Agricultural land is not considered a "Capital Asset" so no capital gains arises when a agricultural land is sold (but the land should qualify as " Agricultural land" as per the IT act provisions). Generated amount can be invested any where one wishes to BUT gains/profits generated out of such investments are taxable as per regulat IT provisons (exception : if the sale proceeds are reinvested in agricultural land then again the income out of such land will be tax free )