conversion of Sec 54B land

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 January 2011 Will conversion of agricultural land to non-agricultural land within 3yrs of purchase withdraw the exemption claimed under Sec 54B?

CA Shailesh Kumar Bhagat (Expert)
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17 January 2011 No, Exemption will not be withdrawan.

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