COMPENSATION ON COMPULSORY ACQUISITION
This query is : Resolved
03 July 2020
WHAT WILL BE THE TAX TREATMENT IN CASE OF COMPENSATION RECEIVED FROM COMPULSORY ACQUISITION OF LAND AND BUILDING FROM BANGALORE METRO RAIL CORPORATION IN CASE OF NON AGRICULTURAL LAND ALONG WITH BUILDING.
WHETHER ENTIRE COMPENSATION RECEIVED IS TAXABLE OR NOT ?
WHETHER ENTIRE COMPENSATION RECEIVED IS TAXABLE OR NOT ?
03 July 2020
The above transaction will attract Capital Gain u/s 45(5). The Capital gain will be taxable in the year in which the compensation is first received.
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