Sale of Urban Agriculture land, 54B Exemption
This query is : Resolved
03 April 2025
Hello, I sold Urban Agriculture land on 1st April, 2025 capital gain arises of Rs 45 Lakhs and I want to purchase new agriculture property new agricultural land which Govt. value i.e stamp value is Rs 25 Lakhs & Purchase consideration is Rs 48 Lakhs so can I claim Rs 45 Lakhs as exemption or not. Please explain. Also, tell any reference of provision/rule for the same.
03 April 2025
Yes eligible...
The amount of exemption provided under section 54B shall be lower of-
The amount of Capital Gain arising on transfer or
The cost of new agricultural land including the amount deposited in the Capital Gain Account Scheme.
For details refer::
https://taxguru.in/income-tax/section-54b-exemption-capital-gains-transfer-agricultural-land.html
The amount of exemption provided under section 54B shall be lower of-
The amount of Capital Gain arising on transfer or
The cost of new agricultural land including the amount deposited in the Capital Gain Account Scheme.
For details refer::
https://taxguru.in/income-tax/section-54b-exemption-capital-gains-transfer-agricultural-land.html
Message likes :
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11 April 2025
Thanks sir for help.
11 April 2025
You are welcome.
29 September 2025
Good luck..
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