My land(homestead) was acquired by govt. under compulsory acquisition for road development for Rs. 5 lacs. They deducted 10% TDS on the amout paid towards TDS. I have a LTCG of Rs.70,000/- on this deal. I already have a self accupied house where I live. Can I save the LTCG by buying another land (agriculture) of Rs. 5 lacs anywhere within the required timeframe?
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Replies (2)
i think u cant invest in agricltr land bcz d compulsrly aquird land is not an agri land and hence sec 54B is not applicable .
u can invst only in NHAI and other notified bonds as per sec 54EA or u can purchase one more res house accordng to sec 54F
CORRECT ME IF AM WRONG
| Originally posted by : Manu.R | ||
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i think u cant invest in agricltr land bcz d compulsrly aquird land is not an agri land and hence sec 54B is not applicable . u can invst only in NHAI and other notified bonds as per sec 54EA or u can purchase one more res house accordng to sec 54F CORRECT ME IF AM WRONG |
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I agree
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