Hi guys 👋 in this blog lets see the exemption is available for transfer of agriculture land and purchase of another agricultural land applicable only for individual and Hindu and divided family asset transferred should be agricultural land such land should be used for agriculture purpose agent by the SSC or his parents in the immediately preceding 2 years only urban land and rural land is not Capital Asset transferred maybe either long term or short term another agriculture land either urban or rural should be purchased within 2 years from the date of transfer the newly acquired agriculture land should not be transferred within 3 years from the date of purchase capital gains account deposit scheme as like section 54 quantum of exemption gross long or short capital gain or amount invested which a very less applicable of all SSC asset transfer must be land or building and such as at should be a long term Capital Asset to climb exemption the assassy should have invested in specific Bond which are also known as long term specified Bond has specified Bond for this section means bonds issued by the national highway Authority of India and rural electrification Corporation Limited investment should be made with in 6 months from the date of transfer of password or before the due date of filling of the said long term specified bonds should not be transferred within a period of 5 years from the date of its purchase the provisions leaves with the transfer of any ltca and investing the money in the purchase of house property the basic difference between 54 and 54 years as that the earlier section exemption is available if the sale and purchase is also property where is the latest section is the sale of any asset but investment should be in house property additionally that's not take into consideration the number of house owned by the sea whereas and the section 54f the number of houses owned by dassi is relevant applicable for individual and Hindu undivided family asset transfer should be a long term Capital Asset other than house should have been purchased Re constructed within a specified period of time in case of purchase one year before or 2 year after the date of transfer Assisi should not own more than one property excluding the house both of the date of climbing exemption the newly purchased you constructed property should not be transferred within 3 years from the date of purchase construction the unique difference between this section and other section is that in this what needs to be invested is net consideration and not gross capital gains.

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