Income tax on captial gain on,sale of agricultural urban land

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

31 July 2015 Hi,
i sold urban agricultural land for rs ten lakhs in2012 and purchase residential land in,2015 (with in three years )should i get exemption on money that i got by sell of agricultural land or not

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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01 August 2015 Though you were eligible for section 54F exemption since house was purchased beyond two years of transfer of agricultural land you are not entitled to claim said exemption.