Gupta, who was provided security by the Punjab Police, was alone when the attack took place near his office in Khanna town, 75 km from here.
He died on the spot after being shot from close distance by the assailants who were on a motorcycle.
This is not the first attack on right-wing leaders, especially from Shiv Sena, in Punjab in the last one year.
Shiv Sena leader Harinder Soni was shot at by unidentified assailants while he was on a walk in Gurdaspur town in north Punjab in April last year, while other unidentified assailants shot at the son of a Shiv Sena leader in Jalandhar city on January 18 this year leaving him injured.
The victim, Deepak, son of Sena leader Vinay Jalandhari, was shot at by two motorcycle-borne assailants outside a school in Jalandhar's Deen Dyal Upadhaya Nagar area.
In two separate incidents, unidentified people fired shots at Rashtriya Swayamsewak Sangh (RSS) activists in Ludhiana city in January and February this year.