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Capital gain on agriculture land

(Querist) 08 March 2016 This query is : Resolved 
Dear Sir,
My ancestors in 1920 had taken on lease agriculture land for a period of 100 years. In due course the lease was terminated by The Thekedari Abolition Act, 1965 and Bhumidari Rights were given to my family. Today by inheritance by way of Will some land has been inherited by my son. The land falls within the vicinity of municiple limits for Capital gain purpose. For computing tax what land acquisition value would be taken.
Thank
Sanjay Sood
Report Abuse
R.K Nanda (Expert) 08 March 2016
consult tax lawyer.
Rajendra K Goyal (Expert) 08 March 2016
Consult local tax consultant.

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