You have to purchase another agricultural land within two years from the date of such sale transfer
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I have received Rs. 1 crore from sale of land. The necessary documents were executed on 30th June 2021. The land is my ancestral property. This was used by me for agriculture. I am planning to buy another agricultural land within a period of two years. Whether can I claim any tax exemption if I buy new agricultural land by 31st December 2022 and the amount of money required to be invested for claiming such exemption.
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