if agriculture land sold & capital gain arising out of it. & if another agriculture land purchase in the name of major childrens of assessee then can assessee claim the exemption under section 54b for such land.??
if agriculture land sold & capital gain arising out of it. & if another agriculture land purchase in the name of major childrens of assessee then can assessee claim the exemption under section 54b for such land.??
No...The assessee cannot claim deduction like that.
Better way is to first purchase in own name and then transfer it as a gift.
NO the assessee can not claim exemption
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