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Sale of agriculture land

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 December 2013 My father sold an agriculture land which was held for more than 10 yers..
Land doesnot situated in the municipality limits but 6kms away from the municipality..
does the income taxable as capital gain??
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
31 December 2013 If its agricultre land as per municipal records then no need to pay any capital gain as it will be out of def of capital asset.
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