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 :
1 times
11 April 2025
Thanks sir for help.
11 April 2025
You are welcome.
29 September 2025
Good luck..
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
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Treatment of Pension ?annuity returns on PMVY
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Sales return eway bill
- Free lancer income
- STCG FOR GOLD ETFs
- Loan by Partnership Firm
- Specified Profession
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
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
