compensation received acquisition of land by awas vikas.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 April 2011
Is any person after receipt of compensation from awas vikas UP against his agriculture land is liable for Tax payment. He has alreday submitted the Form No.15H at the time of receiving money.
28 April 2011
as per Sec 54B Capital gains arising from the transfer of agricultural land is exempt if it is used for agriculture purpose for last 2 years. in case of compulsory acquisition within 2 years from the date of receipt of compensation
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