Compulsary Acquisition under Land acquisition act
This query is : Resolved
26 July 2023
Whether non agricultural land compulsorily acquired by government exempt from tax under Land Acquisition Act or not?
26 July 2023
Yes, if acquired under RFCTLAAR act...
27 July 2023
I have read RFCTLARR is replacement to earlier Land Acquisition Act. Is it true? Because with this any acquisition coming under Land Acquisuiton Act will be exempt.
27 July 2023
Yes, applicable from 2016 wide circular no/ 36.
Refer:: https://incometaxindia.gov.in/communications/circular/circular362016.pdf
Refer:: https://incometaxindia.gov.in/communications/circular/circular362016.pdf
13 September 2024
Good luck.
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