Regarding capital gain on sale

[YASH JAIN]

If anyone has received 7 crore from sale of urban agriculture land then how to claim exemption from this gain so that tax get reduced

[Padmanathan KV]

Please see if you can avail the benefits of sections 54B or 54F by making investment as required thereunder.

AI Summary

Capital gains exemption: consider sections 54B or 54F by reinvesting in qualifying assets to reduce tax liability. Capital gains from sale of urban agricultural land should be addressed by considering the exemption routes under sections 54B and 54F; the operative action advised is to make the requisite investment as required under those provisions so as to qualify for the investment-linked exemption and thereby reduce taxable gain, with eligibility and compliance dependent on meeting the investment conditions and procedural requirements prescribed by those provisions.