Capital gain

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Vandna rana (Querist)
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06 April 2017 Respected Sir,

I want to know that a person sale a residential house and then purchase agricultural land. Are capital gain exempt and taxable

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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06 April 2017 Capital gains from sale of residential house must be invested in purchase or construction of residential house property in order to get exemption u/s 54 and not in agricultural land.

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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06 April 2017 Capital gains from sale of residential house must be invested in purchase or construction of residential house property in order to get exemption u/s 54 and not in agricultural land.

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