Agriculture land sold in rural area, 8 km away from Municipality. Pls confirm whether land should be situated 8 km away from municipality or Town in which it is situated?
Pls let us know the Provision for sale of agriculture land?
22 July 2014
If these conditions are satisfied than land will be agriculture land.
1. Land is situated in any area within the jurisdiction of a municipality or a cantonment board having population of less than 10000. 2. Land is situated outside the notified distance from jurisdiction of municipality. Govt. can notified maximum distance of 8Km. If this condition was satisfied than land is rural agriculture land. And not liable for capital gain tax.
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