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.
4 Replies
Tanuj Chandra Saxenaa
(Company Secretary)
(7085 Points)
Replied 14 December 2021
No there is no need
sachin
(prop)
(23 Points)
Replied 14 December 2021
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.
sabyasachi mukherjee
(27858 Points)
Replied 15 December 2021
Invest in capital infrastructure bonds as per Sec 54EC
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