conversion of agricultural land
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 January 2011
Will conversion of agricultural land to non-agricultural land within 3yrs of purchase withdraw the exemption claimed under Sec 54B?
25 January 2011
Conversion of agriculture land into non-agriculture land does not amount to transfer u/s 2(47).
As such exemption will not be withdrawn.
If the converted Agriculture land after conversion is treated as stock in trade of a business, then it will be called a transfer.
As such exemption will not be withdrawn.
If the converted Agriculture land after conversion is treated as stock in trade of a business, then it will be called a transfer.
Message likes :
1 times
25 January 2011
Agree with expert.
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
- Price inclusive or exclusive of GST while made entry in P& L Account
- TDS 194-T applicability
- Tds on commission charges
- Applicability of GST on Salary Reimbursement Component
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Dep. as per companies act
- Need Professional Opinion AY 2012-13 Old Demand
- Withdrawal in cash from partners capital account by partner
- CHECK RELATED
- New GST registration for new place of business.
- Tax rate change regarding
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
Quick Links
09 September 2026
Semi Qualified CA / CA Inter - 2 Groups Cleared
Getmyca Consultant Pvt Ltd
New Delhi
CA Inter
View Details
ARTICLESHIP
21 September 2026
CA Article Assistant
KK & Company Chartered Accountant
Pune
CA Inter
View Details
CCI
Pro
CAclubindia
