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Tax implications on sale of teak trees

This query is : Resolved 

28 November 2014 hi
What are tax implications on the sale of teak trees grown in own land (4 acres) by an individual to a company ?
the trees have been planted during 1955 by assesse's grand father.
The concerned individual is a government employee having salary income only.

please reply me ..

Thank u.

28 November 2014 ITS UNDER AGRICULTURE INCOME

29 November 2014 thank u sir..
is there any tcs deduction by the company on the payment they gve.




29 November 2014 yes its 2.5% tcs.................

01 December 2014 sir
if tcs is deducted by company on the assessee , can it b claimed back as refund by assessee (individual).

Also is der any service tax or other indirect tax application on this transaction.



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