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Agriculture land sold to agricultural industry, Will it get capital gain tax or Income tax?

Income Tax - Started By: - Amit Kunjir - Dated:- 21-8-2016 Last Replied Date:- 21-8-2016 - Group of farmers have decided to sale 44acres of land to agri industry. This land is 8km away from city limits (aerial distance) and the population of village .....

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he land is near pune, maharashtra - Reply By Ganeshan Kalyani - The Reply = Sir, the extract of the definition of capital assets is reproduced below for ready reference:(14) [ capital asset means- (a) property of any kind held by an assessee, whether .....

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15 of 1992.]but does not include- (i) ....... (ii).... (iii) agricultural land in India, not being land situate- (a) in any area which is comprised within the jurisdiction of a municipality (whether known as a municipality, municipal corporation, not .....

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