Hello Sir,
I read an related article says that the selling of agriculture land is not taxable if it is located beyond 8 KM from the Municipal. Please let me know is there any limitation of the amount which the land is sold for.
Thank you
Raj
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Mango cultivation property taxable
Replies (4)
You will have to call upon a valuer who will give a valuation of the agricultural land because mango trees on the land will add a premium on the price of the land, which could be higher than the fair market value of the similar land (without mango trees) in the same locality.
For agri lands if it is more than eight kms from the municipal limits or the limits prescribed in the act, then you need not worry about the amount. Whatever the amount received by you exempted from LTCG
I think in the above case,You need to consider not only wheather it is beyond 8 kms or not but also consider wheather population as per latest census where you have land should not exceed 10000
Hello Sir,
Thank you for your valuable.
How to get the certification to confirm my land belongs to "Rural Agriculture Land".
Thank you.
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