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Section 54b on short term capital gain

This query is : Resolved 

24 August 2016 if any urban agriculture land purchased at date 01/08/2015
and sale at 25/03/2016
can get exeption of section 54B to avoid capital gain with purchasing another agriculture land with in 2 years ?

24 August 2016 As the land is not held for two years and used for agriculture 54B exemption can't be claimed.

24 August 2016 can be held more than two years for get exmption of 54B
if any urban agriculture land purchase in 2010-11 and sell in 2015-16
can we get benefit of 54B ?




24 August 2016 Yes provided it is used for agriculture for two years immediately preceding the transfer.

24 August 2016 sir till new agriculture land not purchase
is it mandatory to keep money of considration in capital gain acount ?

is capital gain acount provision aplied in all section of capital gain exeption to spend period till reinvestment ?

24 August 2016 Yes.

U should purchase a new agricultural land from capital gain account.

Hope your query is resolved

Kindly like if my response has helped you



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