Capital gain--

Charudutta R. Mhalgi (Querist) 19 June 2012 This query is : Resolved

Respected Sir,

My query is regarding capital gain on Agricultural land if it is sold out.

What is the local limits of any municipality,notified area and is there any specific distance from that particular area?

Kindly advice for the same.

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Suhail A.Siddiqui (Expert) 19 June 2012
It is different place to place, give detail of place

Adv.Ashwini Khatri (Expert) 20 June 2012
This trascation is not taxable on that condition is you should next investment in agricultural land. Than no tax will be computed. Thank You.