Acquisition by Government

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Querist : Anonymous

Querist : Anonymous (Querist)

08 January 2011 Compensation recd from govt. on compulsary acquisition by govt. is taxable or not?

CA Vijay Kumar Gupta (Expert)
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08 January 2011 Taxable, exempt only in case of agricultural land as defined in the Income Tax Act,1961

Guest

Guest (Expert)

08 January 2011 yes, it is taxable except in case of agriculture land

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