Capital gain on sale of agricultural land

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T.V.Srinivas

T.V.Srinivas (Querist)
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14 July 2018 Sir one of my client had an agricultural land which was received from his father in 1998 and now he is willing to sell it for Rs 25,00,000 does capital gains attract on sale of agricultural land situated 15 kms away from city limits

what is the amount of tax to be paid by him?
how to ascertain the profit on such sale ?

is there any possibility to avoid tax on such profit?

pleas help me
thanks in advance

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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14 July 2018 Being agricultural land situated away more than 15kms from city limits capital gains exempt from tax.

T.V.Srinivas

T.V.Srinivas (Querist)
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14 July 2018 sir pleas let me know how to assess the distance from city limits to the land, because it has 2 roads passing near to the land

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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14 July 2018 You have to see ariel distance.

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