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Investment in agricultural land under section 54b

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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.
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
02 July 2012 Exemption u/s 54B is available for long term as well as short term capital gain.
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