Can avail exemption together in sec 54b & 54f
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 March 2014
1) Can an individual avail exemption under sec 54B & 54F together and
2) Can we take benefit of purchase of agricultural land from any capital gain tax
2) Can we take benefit of purchase of agricultural land from any capital gain tax
18 March 2014
If the land falls under 54B then no question of any capital gain will arise and hence 54F is not material.
Any agricultural land which is not within the municipal area or notified area then this is not an asset and no capital gain will be charged.
Any agricultural land which is not within the municipal area or notified area then this is not an asset and no capital gain will be charged.
19 March 2014
1) If the underlying asset is land situated in the areas specified in section 2(14)(a) or (b), then section 54B and or 54F can be availed at the choice of the assessee.
2) No, except from the gain arises from the transfer of land specified in section 2(14) (a) or (b).
2) No, except from the gain arises from the transfer of land specified in section 2(14) (a) or (b).
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- ADVANCE PAYMENT OF ADVOCATE
- GST rate and HSN code for sale of racing horses
- DIN reactivation
- UNWANTED CREDIT BALANCE OF GST AS PER BOOKS
- Eway bill generation from place other than registeted
- Condonation . E-Verification of last year return .
- REGARDING ANNUAL RETURNS FILLINGS OF A COMPANY INCORPORATED ON 28.03.2025
- CREDIT NOTES WITHOUT GST
- Query – TDS on purchase of land from NRI under Income-tax Act, 2025
- Depreciation of fixed assets- coop housing society in mumbai
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
