Capital gain

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Querist : Anonymous

Querist : Anonymous (Querist)

13 August 2015 capital gain arising out of sales of agri land .can this be adjusted against another purchase of agri land in the name of spouse or in the joint name of spouse and himself

Amol S Joglekar

Amol S Joglekar (Expert)
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13 August 2015 Can be adjusted if the new asset is purchased in JOINT names, subject however the condition as set out in section 54B are complied with.

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Querist : Anonymous

Querist : Anonymous (Querist)

14 August 2015 sir what are those condition that required to be fulfilled under set 54B.

Amol S Joglekar

Amol S Joglekar (Expert)
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14 August 2015 Please follow the link for a plain reading of section 54B and get back for further query, if any
https://www.incometaxindia.gov.in/Pages/acts/income-tax-act.aspx

Querist : Anonymous

Querist : Anonymous (Querist)

14 August 2015 THANK YOU FOR THE LINK SIR

Amol S Joglekar

Amol S Joglekar (Expert)
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14 August 2015 You are most welcome.
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