Section 54b capital gain
in section 54b if i sell an agricultural land in urban area and again buy an agricultural land in rural area,i will get the benefit of exemption.But my question is that can i sell that agricultural land in rural area within three years and will my earlier exemption be cancelled? But as agricultural land in rural area is exempt so how does it matter if i sell it within 3 years?
Replies (1)
Yes, your earlier exemption is withdrawan and you have to pay capital gain which is earned by selling urban agriculture land.
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