Exemption on Sale of Agricultural Land

What amount is exempt on gains from sale of my agricultural land??

Hey @Joe_Fernandes

Exemption under section 54B of the Income Tax Act is available on Capital Gains on sale of agricultural land and purchase of new agricultural land.

The amount of Exemption will be least of the following -

  1. The Cost of new Agricultural land,
  2. The Capital Gains on the sale of Agricultural land.

Hope this helps!