my client sold a land for 66 lakhs
land situated with in 6kms from municipality area (population 3.5 lakhs)
is he need to re invest in another land ?
he is now converting remaining share of land into sites , and he invested whole 66 lakhs to sites
any exemption is there ?
Have you sold Agri land or NA Land ?
If it's urban Agri Land then it is taxable as LTCG.
Exemption may be taken under 54B by investing into another Agri land.
As you have already put in money into sites , so for 54B , where is funds ??
CAclubindia
