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 ?
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Agriculture land
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 ??
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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