Can avail exemption together in sec 54b & 54f
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 March 2014
1) Can an individual avail exemption under sec 54B & 54F together and
2) Can we take benefit of purchase of agricultural land from any capital gain tax
2) Can we take benefit of purchase of agricultural land from any capital gain tax
18 March 2014
If the land falls under 54B then no question of any capital gain will arise and hence 54F is not material.
Any agricultural land which is not within the municipal area or notified area then this is not an asset and no capital gain will be charged.
Any agricultural land which is not within the municipal area or notified area then this is not an asset and no capital gain will be charged.
19 March 2014
1) If the underlying asset is land situated in the areas specified in section 2(14)(a) or (b), then section 54B and or 54F can be availed at the choice of the assessee.
2) No, except from the gain arises from the transfer of land specified in section 2(14) (a) or (b).
2) No, except from the gain arises from the transfer of land specified in section 2(14) (a) or (b).
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- SFT Cash Deposit in Current Account
- FORM 26A APPLICABILITY
- Value of property in capital gain
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
