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Capital gain tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 March 2018 If an assessee sells urban agricultural land and uses the sale proceeds to purchase rural agricultural land, can he claim exemption under section 54B of Income Tax Act, 1961 ?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
02 March 2018 Yes 54B exemption available for such purchase.

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