Capitla gain tax if land invest in firm as capital

Assuming that the land that you are talking about is not a rural land and hence, is a capital asset, its transfer will be chargeable to capital gains

As per section 45(3) of the income tax act, any transfer of a capital asset by way of contribution towards capital in a firm will be taxable. The sale consideration for this purpose will be taken to be the value at which such transfer is recorded in the books of the firm.