i have purchased land before date of transfer of old land. can i get exemption for the purchased land?
Exemption of long term capital gain u/s 54b
darshan (student) (24 Points)
13 March 2012
CA SACHIN VIJ
(Chartered Accountant)
(112 Points)
Replied 13 March 2012
You can enter into agreement to sell (not sale deed) with the buyer to whom you have sold the land on the date prior to the date of purchase of land. Just arrange a stamp paper of date prior to the date of purchase and complete the agreement to sell. In this way you are eligible to take the benefit of exemption.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
CAclubindia
