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how to show amount earned by selling agricultural land

(Querist) 11 November 2016 This query is : Resolved 
My mother have ancestoral agricultural land since 25 yrs in village at a distance 25km from city. In the month of July- Aug 2016 they sold the agriculture land in 1500000. Please guide me whether these amount is taxable or not? and also tell me how to show these amount ,my mother is illetrate house wife and have no any bank account ,is this amount credited to my father account?
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P. Venu (Expert) 12 November 2016
Your mother-in-law make investment in specified modes which would exempt her from capital gains tax. An illiterate person can also open a Bank account.
R.K Nanda (Expert) 12 November 2016
consult tax lawyer.
R.K Nanda (Expert) 12 November 2016
consult tax lawyer.
adv.bharat @ PUNE (Expert) 12 November 2016
Tax lawyer can guide you properly.
Rajendra K Goyal (Expert) 12 November 2016
Can search Income tax department FAQ.

Discuss in detail with local tax consultant.
Dr J C Vashista (Expert) 14 November 2016
Discuss the matter with area/ward Income Tax Officer/ consultant.

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