New Delhi, Aug. 23 -- -Name withheld on request

We understand that you have inherited agricultural land, of which the original purchase date is 40-50 years old. For determining taxability on its sale as capital gains and related deductions, it should first be examined whether the said agricultural land qualifies as a capital asset.

As per the Income-tax Act, 1961('the old Act')/ the Income-tax Act, 2025 ('the new Act'), agricultural land in India does not qualify as a capital asset, except where:















SI. No.













Population of municipality or cantonment board













Within distance, measured aerially, from local limits of any municipality or cantonment board not being more than

















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