My brother had purchased an agricultural land in 2011 and is now looking at selling the land. there has been no developments made in the property. The current property value is higher than what he had paid at the time of original purchase, is the difference amount taxable and considered as capaital gain. the property is located approx 35 kms from the city center.
kindly advise if the difference amount is taxable or not.
CAclubindia
