Compulsory Acquisition of agriculture land
This query is : Resolved
24 May 2008
I want to know that the amount received as compulsory acquisiton of land by Governemnt is taxable or not. Interest received on compulsory acquistion is taxable of not. Whethter tax will be charged on receipt basis or accrual basis.
24 May 2008
hi, abhishake, let me know that your land is agricultural land or other, and if any capital gain it is taxable on receipt basis, and you can also claim deduction from capital gain under section 54, whatever type of land.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Manual Rectification through AO
- IT Return filed defective u/s 139 (9)
- Fixed Deposit Claim Relinquishment by the Nominee
- ITR 6 Schedule CFL and UD Issues
- Not a CA , can we prepare balance sheet
- Income Type for interest from government bonds
- TDS RATE ON RENT PAID TO NRI
- FREELANCING ACCOUNTANT
- TCS ON SOFTWARE SALES
- Gstr 9 2023-24
- GST Form ADT-02
- Reporting of savings account interest income
- PAYMENT TO OPEN AI AND ENVATO ELEMENT
- From 15CA for remittance by domestic travel agent by to Foreign Destination Management Company.
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
