Agriculture land

[Mohammad Venu]

Sir,

I have sold an agriculture land at 25.05.017, that land was gifted by my grand mother at 30.04.2013, the land cited 16 km from district municipal area,

Now i don't know the land is exemption for income tax or not, if exemption is there any latest case laws or circular,

i hope can any one guide me right way,

Thanks

AI Summary

Agricultural land exemption: sale likely exempt from income tax if land lies beyond municipal proximity distances.
Agricultural land is exempt from income tax on sale only if it falls outside the statutory exclusions: land within municipal jurisdiction above prescribed population thresholds or land within specified aerial distances from municipal limits is excluded; land beyond those proximity limits retains agricultural-land character and is generally exempt, irrespective of prior gift or ownership history.