21 February 2014
CAN A PERSON CLAIM EXEMPTION UNDER SECTION 54F AND 54EC TOGETHER ON TRANSFER OF SINGLE AGRICULTURAL LAND. PLEASE SPECIFY THE RELEVANT SECTION OR THE RELATED CASE.
21 February 2014
If your agricultural land is situated outside the municipal limit then this not an assets and no tax is applicable but if the agricultural land is within the corporation limit then against sale of agar cultural land you have to purchase agar cultural land for claiming exemption from capital gains.
The deduction under section 54F and 54EC can be claimed provided all the formalities are completed of 54F(4)
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