regarding exemption of capital gains

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 January 2011 Dear Sir,

Please Clarify whether exemption available if transfer of property and purchase another immovable proerty in agricultural area

Guest

Guest (Expert)

30 January 2011 Please specify exact nature of both the properties

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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30 January 2011 First, I want to get clarified that in your question , both the properties sold & bought are Agriculture Lands.

If yes, Exemption U/s 54B is available, subject to certain conditions.

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Guest

Guest (Expert)

30 January 2011 Agree with Mr. Bafna