Seling agricultural land

Hi, all I am selling agricultural land which is located near the municipality what are the legal ways I can avoid taxes?

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Quick Summary
If you're selling agricultural land located near a municipality, you might be able to legally reduce your tax liability. The discussion highlights specific sections of the Income Tax Act, namely 54B, 54EC, and 54F, which can be utilised to claim exemptions and save on taxes. It's important to understand the distinction between land 'near' a municipality and land 'within' its limits for these benefits.

There is a difference between near municipaliy and within the municipal limits and jurisdiction.

You can take advantage of sec. 54B &/ Sec. 54EC &/or sec. 54F of IT act and save tax.

You can claim exemption under sec. 54B & or Sec. 54EC & or sec. 54F of IT act to save tax

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