Section 54b
This query is : Resolved
10 August 2011
In case if the assessee sells urban agriculture land and the capital gains is say 24 lacs and he purchases rural agriculture land for30 lacs and claims exemption U/s 54B .The other conditions of Sec 54B are fulfilled.
Now the assessee sells the new rural land before the expiry of 3 years?
Then what will be the impact on capital gain taxability?
Now the assessee sells the new rural land before the expiry of 3 years?
Then what will be the impact on capital gain taxability?
10 August 2011
The cost of such new agricultural land is to be reduced by the amount of capital gain which had been exempt from tax.
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
- Distinct person & regular person POS
- Query ON belated tds deduction
- INCOME TAX NOTICE QUESTION
- Input Tax Credit Treatment For Hotel Service Provider.
- Regarding claiming exemption under section 54ec
- Clarification on Inventory
- Query Regarding Error in Establishing Connection with Traces WebSocket eSigner
- Capital gain on sale of resident house by non-resident Indian
- Authority regulating Transmission of unlisted shares
- Whether to file ITC 03 for downward GST rate revision - Reg.
- Query regarding metal scrap purchase from SEZ
- Seeking Assistance for MoA Amendment and ROC Compliance
- EXCESS CREDIT REALTED GST REVERSAL
- Export invoice not reported
- CA Articleship Extension Matter
- GST OFFICER WRONG NOTICE
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Composition Dealer GST Annual Return Filing process
- Revision under Section 264 in The Income Tax Act, 1961
- TDS under section 195.
Trending Online Classes
-
Live Course on GSTR 9 & 9C for FY 24-25(Detailed discussions, FAQ, Case studies and Live demo of GSTR 9/9C on GST Portal)
Industry Expert16 November 2025
CAclubindia
