Sale of agricultural land

Capital Gains tax can arise only in case if there is a transfer of a capital asset .

As per Section 2(14) of the income tax act,1961 agricultural land is excluded from the definition of capital asset provided if the land is not situated in any area within the jurisdiction of a municipality OR the agricultural land lies within a cantonment board having a population of 10,000 or more OR the agricultural land lies in a notified area

Please check if ur land lies in any of the above areas

Ok......

Thank you Mr. Harshal for your prompt reply

My land does not lie in any of the above mentioned areas.

However, I would request you to kindly explain in a gist - the concept of notified area.

I just want to be doubly sure.

regards