Capital gain tax on sell of parental land

I want to sell my parental land wheather capital gain tax is applicable on it
Replies (7)
Quick Summary
Selling land inherited from your parents can have Capital Gains Tax implications. The taxability depends on whether the land is classified as urban or rural, and if it's agricultural. Generally, rural agricultural land is exempt from this tax. However, if the land is located within a municipal area or is considered urban agricultural land, Capital Gains Tax will likely apply, with the duration of ownership determining if it's long-term or short-term.

Is it urban land or rural land? is it agricultural land?

Agriculture land 

No tax if it is in rural area.

If in municipal area then 

Location of the land
Urban agricultural land is taxable.
Capital gain tax is there.
Long term or short term as the case may be.

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