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Tax on agricultural land

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(Querist)
02 February 2020 If a person owns an agricultural land (ancestral) and from that land he sells a portion of that land . What will be the position of Capital gain?
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Ca Neha Jain

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Ca Neha Jain (Expert)
02 February 2020 Sale of agricultural land is exempt from tax. If you have held the land i urban area than for more than two years, indexation benefit can be taken as it will be called a long term capital asset.
But if land is situated in rural area, you need not pay any tax on its sale.

Hope this helps!
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