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54b
Sale LAnd :1 Crore in 2010-11
Purchase land : 60 LAcs but payment is not made till date. Possession is given.whether 54B exemption allow ??/ or not ???///
Replies (1)
As per section 54B, both lands have to be Agricultural. Further, the capital gain has to be invested in the new asset w/i 2 yrs. Till the time it has to be invested in CG accounts scheme before return filing due date. You have not provided any such details in your question.
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