Capital gain regarding query

hi frns  this is a case of capital gain ragarding pls help to solve it

Lets A sell his farm house to another person as land treated in registration  deed now A have purchased two new house and he wants to avail deduction u/s 54 but the ITO objection upon it due to in registration deed only land mention instead of farm nw wt would do A for avail deduction of two house
 

Replies (4)

Get a valuation reprt frm a GVT/REG valuer in which he has to describe the asset whic he is actually valuing n in it ask him to to mention tht actually its a farm house.

v had a similar case last yr fr our client ...n ITO agrred.

Valuers fees is also nt normally mor thn 5000/ Rs.

thank sir  if suppose valuation amt change due to more valuation than it would also not affect on gain bcz agriculture land free from tax na and is farm house come in the category of building ?

thank sir  if suppose valuation amt change due to more valuation than it would also not affect on gain bcz agriculture land free from tax na and is farm house come in the category of building ?

But it shd b agricultural land a sdefined in it act & fr getting exemption u/s 10(37) u shld fulfill all d condition as mentioned ther. 

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