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?

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??

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
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries



CCI Pro
Meet our CAclubindia PRO Members

Follow us
add to google news



Answer Query



Company
Featured 12 March 2026
Customer Relationship Executive

TAXLET

Calicut

B.Com

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details
Company
Featured 14 March 2026
Article Trainee

N N V Satish&co

Hyderabad

CA Inter

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details