Valuation of agricultural land?

Sale of agricultural land?

• iam an agriculturalist and aslo a businessman, i made some profit from sale of agricultural land, the land details are below "the land comes under rural area, it is 8 klms away from bbmp limits, the purchase dates are 26-9-2008, and 6-92004..... the selling dates are 10-02-2009 and 3-12-2008. i made profits from these agricultural land.. should i pay tax? earlier profit from sale of agricultural land was exempted from tax, please help iam in deep battle with income tax officials

• Answer:

  what is an income tax official? have you liberally listed your R and D expenses? you should have no profits after deducting the R and D exp.