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agricuture land

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(Querist)
22 December 2009 when i purchased agricultural land it was a rural agriculture land i.e outside 8 km from municipality limit. But when i sold it it came within the municipality limit so whether the capital gain on sale of above mentioned agricultural land be chargeab
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CA SURENDRA KUMAR RAKHECHA

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CA SURENDRA KUMAR RAKHECHA (Expert)
22 December 2009 If the land is assessed to land revenue or subject to a local rate assessed and collected by officers of the Government then still it is an agricultural land and capital gains will not be chargeable.
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Murtaza I Bhagat

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Murtaza I Bhagat (Expert)
22 December 2009 agree
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