Capital gain on resale

This discussion addresses the capital gains tax implications for a client who acquired agricultural land in New Mumbai, which was then compulsorily acquired by the government. The client received residential plots as compensation and now wishes to sell them. Experts confirm that a long-term capital gain (LTCG) will likely arise upon the sale of these plots. However, the exact calculation of LTCG cannot be determined without knowing the acquisition date of the original agricultural land.