Agricultural income & sale of agricultural land

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Querist : Anonymous

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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?
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CA R SEETHARAMAN

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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.
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Querist : Anonymous

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

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Dhirajlal Rambhia (Expert)
28 September 2021 No. If query raised, you need to justify the use 'as agricultural land' only based on talati records.
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