Urgent-capital gain

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 January 2015 sir, one of my client has purchase agri.land in 2003-2004 now he sold this in 2014 and reinvested in residential property,then what will be capital gain treatment,and if will be any effect if agri. land is situated in urban area insted of rural area

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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30 January 2015 if it is agricultrul land as per it act then should have again bought agricultural land only u/s 54b or invested in capital gain saving bonds u/s 54EC.

you can take benefit u/s 54F.

Querist : Anonymous

Querist : Anonymous (Querist)

30 January 2015 sir, can u give me any circular for this
and in this case amendment in definition of agri. land will be appllicable or not ..

Querist : Anonymous

Querist : Anonymous (Querist)

30 January 2015 sir, i think 54F exemption we can get

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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30 January 2015 https://www.simpletaxindia.net/2011/11/capital-gain-exemption-5454b54ec54f-at.html

yes take sec 54F benefit.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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30 January 2015 Additionally also refre this.

https://www.caclubindia.com/forum/cg-exemption-u-s-54-54b-54d-54ec-54f-54g-54ga-table-46334.asp#.VMsU3NKUdic

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