banner_ad

Agricultural income & sale of agricultural land

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
25 August 2018 Client has sold an agricutural land in F.Y. 2017-18. He has also purchased another agricultural land to claim exemption u/s 54B. But as per the condition, he should have used the agricultural land for agricultural purpose at least for a period of two years immediately preceding the date of transfer. But client has not declared agricultural income in any of the earlier years. Can he claim the exemption?
Profile Image

CA R SEETHARAMAN

Profile Image

CA R SEETHARAMAN (Expert)
26 August 2018 Check records of revenue authority the classification of land. Exemption can be claimed if as per records it is agricultural land.
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
27 August 2018 As per you, it doesn't matter whether the client has shown agricultural land or not??
Profile Image

Dhirajlal Rambhia online

Profile Image

Dhirajlal Rambhia online (Expert)
28 September 2021 No. If query raised, you need to justify the use 'as agricultural land' only based on talati records.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details