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Agricultural land

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 February 2013 Case:
Sold agricultural land within the radius of 8 KM of Corporation, for Rs. 1 Crore, the said amount is invested partly in Agricultural land and partly in residential house property.

query:
1.Can we claim the exemption u/s 54b and 54f simultaneously?
Or should only be invested in agricultural land to get benefit?
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Dintakurthi Tirumala

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Dintakurthi Tirumala (Expert)
21 February 2013 Yes, you can get exemption benefit of both u/s54b and 54f.

OM SAI SRI SAI JAI JAI SAI
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