Time limit for investment in new asset: purchase agricultural land within the prescribed post-transfer period to claim capital gains exemption. The capital gains exemption under section 54B requires the assessee to purchase agricultural land within 2 years after the date of transfer of the original asset to qualify for the exemption.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Time limit for investment in new asset: purchase agricultural land within the prescribed post-transfer period to claim capital gains exemption.
The capital gains exemption under section 54B requires the assessee to purchase agricultural land within 2 years after the date of transfer of the original asset to qualify for the exemption.
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