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Capital gain exemption under section 54b

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priya article [ Scorecard : 131]	Posted On 31 May 2012 at 15:36
	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.??

Prateek Agarwal Sr. Executive - Finance & Accounts [ Scorecard : 1724]	Posted On 31 May 2012 at 15:57
	No.......


Prateek Agarwal Sr. Executive - Finance & Accounts [ Scorecard : 1724]	Posted On 31 May 2012 at 16:06
	No...The assessee cannot claim deduction like that. Better way is to first purchase in own name and then transfer it as a gift.

ashish kumar singhal student [ Scorecard : 21]	Posted On 31 May 2012 at 16:19
	NO the assessee can not claim exemption

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