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capital gain in case of a company

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Querist : Anonymous

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Querist : Anonymous (Querist)
08 September 2010 sir,
i have a urban agricultural land , i want to sell it and want to buy another agriculture urban land will i be exempted under sec 54 B or is there any provision through which i can save the tax .the land was bought 5 years back and it is in a private limited company ,i can not transfer the company also
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
09 September 2010 In section 54B the phrase " ASSESSEE OR A PARENT OF HIS ..." indicates that the section is applicable to Individual Assessees only.
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