exemption is available under this section on both LTCG or STCG or not.
7 Replies
Giridhar S Karandikar
(Team Lead)
(7553 Points)
Replied 03 March 2019
under IT Act no exemption allowed under any section for STCG.
Priya Kashyap
(Student)
(7053 Points)
Replied 03 March 2019
exemption is available on both long term capital Assets and short term capital assets.
the benefit is only available to individual for h u f
in case of sale of agricultural land long term as well as short term capital gain exemption under section 54 b is available
the benefit is only available to individual for h u f
in case of sale of agricultural land long term as well as short term capital gain exemption under section 54 b is available
RAMAKRISHNAN R
(INCOME TAX OFFICER)
(1736 Points)
Replied 03 March 2019
agree with Ms. priya since nothing is mentioned against the capital asset I. e. short term or long term
Mayur Patil
(Article)
(1276 Points)
Replied 04 March 2019
Sec 54B
To whom :- individual /HUF
when :- LT/ST agricultural land sold &
CG invested in purchase of agriculture land within 2 years from the date of transfer
Exemption :- investment or CG whichever is less
Lock in period :- 3years
To whom :- individual /HUF
when :- LT/ST agricultural land sold &
CG invested in purchase of agriculture land within 2 years from the date of transfer
Exemption :- investment or CG whichever is less
Lock in period :- 3years
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