Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 August 2012
Hi,
I had sold gold purchased before 01/04/1981
and within six months i purchased an agricultural land. Will i get an exemption u/s 54B? How should i get a tax benefit is there any other way out
I had sold gold purchased before 01/04/1981
and within six months i purchased an agricultural land. Will i get an exemption u/s 54B? How should i get a tax benefit is there any other way out
20 August 2012
1. Exemption u/s 54B is available only if the assessee has SOLD an agricultural land and purchased an agricultural land.
Since you have sold gold, exemption is NOT available.
2. You can avail exemption u/s 54F by investing in residential house property or u/s 54EC by investing in specified bonds.
Since you have sold gold, exemption is NOT available.
2. You can avail exemption u/s 54F by investing in residential house property or u/s 54EC by investing in specified bonds.
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