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Sale of agricultural land

This query is : Resolved 
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(Querist)
15 April 2013 An individual Mr.A sale his AGRICULTURAL LAND to a listed Company and received consideration in two ways.
1. Consideration as per the Govt. rate(i.e. Stamp Value) and
2. Land development cost

is the land development cost received by the seller chargeable to tax.
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
15 April 2013
Definitely, it is chargeable to tax.
.
However, the nature of the development cost
itself will decide the head of Income under which it will be covered.
.
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Murari Lal Agarwal

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Murari Lal Agarwal (Querist)
16 April 2013 Thank you Sir for your quick reply.

Please mention what are the possible nature of development cost.
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