if agriculture land sold & capital gain arising out of it. & if another agriculture land purchase in the name of major childrens of assessee then can assessee claim the exemption under section 54b for such land.??
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Capital gain exemption under section 54b
Replies (3)
No.......
No...The assessee cannot claim deduction like that.
Better way is to first purchase in own name and then transfer it as a gift.
NO the assessee can not claim exemption
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