Acquisition by Government
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 January 2011
Compensation recd from govt. on compulsary acquisition by govt. is taxable or not?
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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