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Capital gains for agriculture land

This query is : Resolved 
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(Querist)
04 January 2015 my client has a land which is more than 8kms from municipal limits, but does not have agriculture income in the past years, Will the sale proceeds of that land attract capital gains, or be exempted as agriculture income. Pls help
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
04 January 2015 Please see the records of revenue authorities if it is classified as agricultural land then it will not attract capital gain.
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CA Kumar Mukesh

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CA Kumar Mukesh (Expert)
05 January 2015 If it does't comes under the definition of capital asset given under section 2(14) then there is no liability of Income Tax for capital gain arsing under from sale of said asset.
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