doubt regarding income tax exumption
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 November 2010
is there an exumption of income tax in sale of agricultural land
12 November 2010
You may refer section 54B.
According to that section this exemption is available to only individual. And the land should be used for agriculture purpose for last 2 years immediately preceding to the date of transfer.
And the sale consideration should be invested in another agriculture land within the period of 2 years from the date of such transfer.
According to that section this exemption is available to only individual. And the land should be used for agriculture purpose for last 2 years immediately preceding to the date of transfer.
And the sale consideration should be invested in another agriculture land within the period of 2 years from the date of such transfer.
13 November 2010
Expert, Jalpa Shah is correct, you can cliam deduction u/s 54B
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
- Is any professional CA is here please reply
- Reopen of assessment proceeding
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Putting a heading on received mail
- Gift Received from nonblood relative
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Experts need help
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Rental income gst and it purpose
- 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
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
CAclubindia
