Tax on Sell of property

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    VAIBHAV DILIP RANE Active Member

    Yes, your Capital Gain is Totally Exempted, under section 54B of the Income Tax Act, 1961.

    under virtue of Section 54B (1) (ii) -

    Since the cost of purchase of New Agriculture Land is more than the capital gain on sale of original / old Agriculture Land,.. It is Exempted,...

    Subject to other conditions of the sections, and you have purchased the New Agriculture Land within 3 years from sale of original / old Agriculture Land.
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