Is there any tax to be paid to government once I sell the agricultural land?if, yes, how much?

Question

once i sell the agriculture land, do i have to pay taxes to the govt..? if yes,h how much?

i live in Karnataka..

Answer ( 1 )

    0
    2020-08-17T17:52:02+05:30

    Agricultural land in Rural Area in India is not considered a capital asset. Therefore any gains from its sale are not taxable under the head Capital Gains. … Under Section 10(37) of the Income Tax Act, Capital Gains on compensation received on compulsory acquisition of urban agricultural land is exempt from tax.

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