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?
Taxability of Agricultural Land Sale Near Municipal Limits: Seek Professional Advice for Complex Determination An individual inquired about the taxability of agricultural land sold by a client in the fiscal year 2009-10 for 3,080,000. The land, inherited in 1963 and used for agricultural purposes, is located within 4 km of municipal limits. The query sought advice on determining the municipal limit's starting point. The response suggested consulting a professional due to the complexity of factors involved. (AI Summary)
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