Respected Sir,
My father recently about to sell a land(not agricultural) property of 10 decimal, which inherited from my grandfather.The record of the land was made in 1970.
Now the sell price for the land is 10 lakh rupees for 10 decimal(1 lakh each decimal). the land situated near urban place, 5km away from main town.
Sir,here I've a question that,
if the land sold for the mentioned price whether my father has to pay tax or not.
If yes, then how it'll be calculated, I mean what percentage will be tax etc...

Sir I'll be grateful if my question answered

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