This concerns the sale of residential land and utilization of the proceeds to acquire agricultural land: Can the value of the agricultural land being purchased be deducted from the proceeds of the sale of the residential land? What documents need to be prepared and submitted (and where)?
Thank you very much!
Wasn't there an exemption for reinvesting the amounts of the sale in another fixed asset?
To promote housing - only House should be purchased. You can sell land and buy House.
RBSM Corporate Advisors Private Limited
Pune
CA
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K R Kiran Kumar & Associates
Bengaluru
CA Inter
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Bharat Shah & Associates
Mumbai
CA Inter
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Hema Yashwanth & Associates
Chennai
B.Com
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Kothari Jain Patil & Chartered Accountants
Pune
CA Inter
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