Section 54b exemption

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 March 2015 My client has LTCG on sale to urban agricultural land in the Ay 2009-2010 which he invested in another agricultural land and got registered in the name of his son and has not filed his return of income.
My query is:
1. Whether filing of ITR is mandatory for claiming exemption u/s 54B.
2. Whether exemption u/s 54B is available when he invested in the new agricultural land but got the land registered in the name of his son.

Please reply to the aforesaid queries. Also please suggest case laws if available

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

25 March 2015 1. yes to claim exemption u need to file itr
2. should be atleast the co - owner.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Sabyasachi Mukherjee

CA Sabrish Nair

Sanjay Ratnani

Sasidhar B

MURALIKRISHNA EDDANAPUDI

Subscribe Now

Section 54b exemption

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Accountant

CA Final

GST CONSULTANT

Article Assistant

Manager- Finance and Compliance

GST CONSULTANCY