Regarding capital gain.

[pmarbate]

My father sold a agricultural land which was inherited by his parent. It is situated in the town "Kurkheda" District: Gadchiroli State: Maharashtra. There is Nagar Panchayat situated there and the agricultural land is situated within approximately 2 km from Nagar Panchayat and the nearest municipality is 25 km from agricultural land which is Wadsa. Please let me know whether it will come in Rural or urban agricultural land and Tax applicable on the sell of this land.

 

[Ft_Vaishali]

It will be considered as rural agricultural land and exempt under head Capital gain, As agricultural land situated in rural area is not considered as capital asset.