Taxability of Agriculture land, Income Tax

[Haresh Raithatha]

One of My client an agriculturist has sold his land in FY 2009-10 for ₹ 3080000\- He received the same in inheritance in the year 1963. The Land is used for agricutute purpose since then. The said land is situated within 4 km from Municipal limit.

Please advise and also guide that from which point the municiple limit is to be counted?

Posts / Replies

[MARIAPPAN GOVINDARAJAN]

It is better to consult a consultant since various factors are to be taken into account.