Ltcg on agricultural land - section 54f

Tax queries 603 views 2 replies
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Learning Tax
129 Points Joined July 2011

An assesseee wants to sell his Agricultural Land situated in an urban zone bought in year 2003 & want's to invest the Long term Capital Gains arising therefrom in buying flat in an underconstuction building. He has no residential property in his name.

Can he claim exemption u/s 54F?

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On 24 November 2011 at 15:52 Report
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Chartered Accountant
722 Points Joined January 2009

Yes he can calim deduction u/s 54F

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On 24 November 2011 at 15:57
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Learning Tax
129 Points Joined July 2011

Thanks!

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On 24 November 2011 at 19:34

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