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Agriculture land

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my client sold a land for 66 lakhs
land situated with in 6kms from municipality area (population 3.5 lakhs)

is he need to re invest in another land ?

he is now converting remaining share of land into sites , and he invested whole 66 lakhs to sites

any exemption is there ?
Replies (2)
Have you sold Agri land or NA Land ?

If it's urban Agri Land then it is taxable as LTCG.

Exemption may be taken under 54B by investing into another Agri land.

As you have already put in money into sites , so for 54B , where is funds ??
Agree with Kapadia Sir...


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