I have sold one Urban Agricultural Land in 3 Parts in same financial year. Can I purchase Single Agricultural Land for saving of Capital Gains arising on Sale.
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Capital Gain on Sale of Agricultural Land in Parts
Replies (4)
NO NOT NECESSARILY.
No there is no need
My question is that I sold a Urban Agricultural Land in Three Parts i.e. on 21-08-2020 in 21 Lac, on 24-08-2020 in 55 Lac and on 28-08-2020 in 32 Lac and now the Long term capital gain is arising as Rs. 39 Lac on sale of these three parts. Can I purchase a single Agricultural Land to save my Long Term Capital Gain Tax of Rs. 39 Lacs.
Invest in capital infrastructure bonds as per Sec 54EC
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