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Compulsary Acquisition under Land acquisition act

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(Querist)
26 July 2023 Whether non agricultural land compulsorily acquired by government exempt from tax under Land Acquisition Act or not?
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Dhirajlal Rambhia online

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Dhirajlal Rambhia online (Expert)
26 July 2023 Yes, if acquired under RFCTLAAR act...
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Upasana

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Upasana (Querist)
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.
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Dhirajlal Rambhia online

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Dhirajlal Rambhia online (Expert)
27 July 2023 Yes, applicable from 2016 wide circular no/ 36.
Refer:: https://incometaxindia.gov.in/communications/circular/circular362016.pdf

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