Agricultural land

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Querist : Anonymous

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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?
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CS,CA F,Numrologi TusharSampat

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

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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?
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
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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