How is sale of agricultural land taxed?

We are a family of four, including my parents and my elder brother. —Name withheld on request Agricultural land in India does not qualify as a capital asset ), unless it is situated as follows: a) In any area within the jurisdiction of a municipality/ cantonment board, with a population* of 10,000 or more; or b) In any area : • Within 2km of the local limits of any municipality/ cantonment board with a population of more than 10,000 but within 100,000; • Within 6km of the local limits of any municipality/ cantonment board with a population of more than 100,000 but within 10,00,000; • Within 8km of the local limits of any municipality/ cantonment board with a population of more than 10,00,000. In case the land referred in your query, qualifies to be an agricultural land in India which is not a capital asset as defined above, any gain/ loss from transfer of such land, shall not be taxable under the income tax Act. However, in case the land qualifies to be a capital asset, the entire gain/ loss from transfer of such land will be subject to capital gains tax in your father’s hands as he is the owner of the land and all related provisions shall apply. In such a case, since the land is held for more than 24 months, the same shall be considered to be sale of long-term capital asset and any gain shall classify as long-term capital gain.