Definition of rural agriculture land

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Querist : Anonymous

Querist : Anonymous (Querist)

18 June 2013 Dear Experts,

What is considered as Rural Agriculture Land under Income Tax for Capital Gain Tax ?

Please advise

Vijay Jain

Ganeshbabu K

Ganeshbabu K (Expert)
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18 June 2013 Section 2(14)(iii) defines the agricutural land as under:

Agricultural land in India, not being land situate—

(a) in any area which is comprised within the jurisdiction of a municipality (whether known as a municipality, municipal corporation, notified area committee, town area committee, town committee, or by any other name) or a cantonment board and which has a population of not less than ten thousand according to the last preceding census of which the relevant figures have been published before the first day of the previous year ; or

(b) in any area within such distance, not being more than eight kilometres, from the local limits of any municipality or cantonment board referred to in item (a),as the Central Government may, having regard to the extent of, and scope for, urbanisation of that area and other relevant considerations, specify in this behalf by notification in the Official Gazette;]

See notification no. 9447 dated 06/01/1994 for notified area

Thanks & regards
Ganesh babu k

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