Regarding Agricultural Land

patelconsultants (proprietor) (36 Points)

31 July 2010  

I want to sell agriculture land which is situated between vadodara and Padra. From padra it was just near 2 km. It was used as agricultural purpose since last two years. i want to know whether my income on sale of land is taxable or not. if taxable then how can I get benefit in income tax. Please reply with circulars or notification.