Agricultural land

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Querist : Anonymous

Querist : Anonymous (Querist)

16 October 2013 A pvt ltd company had sold an agricultural land coming in the jurisdiction of municipality. If it buys any other agricultural land, could the capital gain tax be avoided?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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16 October 2013 No this exemption is not available for Companies.

Querist : Anonymous

Querist : Anonymous (Querist)

16 October 2013 Thanks Sir. One more thing to clarify that if the company invests the capital gain in REC bonds, is it exempt u/s 54EC?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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17 October 2013 Yes 54EC is allowed for deduction to companies also provided the whole capital gain is invested within 6 months of transfer.

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