agricultual land sale within one year

neyaz (Querist) 15 March 2011 This query is : Open
my father in law (age 61) sate govt. employee bought an agricultural land last year and build one farm house ,he passed away in jan 2011 now my family wants to sell that land ,could you please tell me rules and other formalities needed to be done for that,my mother in law is nominee and they have three children (1 son 2 daughters all married)
buyer is NRI ,what mode of payment should we adapt
what will be the taxable amount ,tax liability etc

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