Investment in agricultural land under section 54b
This query is : Resolved
02 July 2012
Please confirm whether a short term Capital gain on transfer of urban agricultural land can be avoided by investing the entire sales Consideration in another urban Agricultural Land within Specified period by virtue of section 54B of I.T. Act or not.
02 July 2012
Exemption u/s 54B is available for long term as well as short term capital gain.
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