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Question

Krishnan Kutty Kutty's image
Krishnan Kutty Kutty
Dec. 1, 2016, 4:11 p.m.
Sir 

   I am owner of 1.20 Acre of rubber cultivated land located in rural area in KERALA.  The land was purchased during September 2005 at a cost of Rs 135000/_.  Now I am planning to sell the land about 50 lakh Rupees.  Since land is located in rural area and cultivated rubber will it considered as agricultural land?.  If so whether I am eligible for exemption of  LTCG Tax under rural area agricultural land. 

     Hope to hear u soon