Seling agricultural land

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3 Points Posted on 01 February 2022

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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On 01 February 2022 at 19:33 Report
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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.

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Profession
28271 Points Posted on 02 February 2022
There is a difference between near municipaliy and within the municipal limits and jurisdiction.
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On 02 February 2022 at 06:55
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SEO Sai Gr. Hosp.
212556 Points Posted on 02 February 2022

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

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On 02 February 2022 at 10:15
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Chief Accountant
3150 Points Posted on 04 February 2022
You can claim exemption under sec. 54B & or Sec. 54EC & or sec. 54F of IT act to save tax
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On 04 February 2022 at 22:11

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