in which section is exempt if I received compensation from my acquired agriculture land by government of india
4 Replies
Abhishek Tiwari
(Article)
(22 Points)
Replied 25 April 2019
Compensation for Rural Agriculture land will always be exempt since its not a Capital Asset. For Urban Agricultural Land, I'm not sure if there is an exemption, but if it is, it should be under section 10
Kamini Sheth
(owner)
(311 Points)
Replied 25 April 2019
Check if it is acquired under RFCTLAAR act, 2014?
If yes, then it is exempted.
rama krishnan
(12244 Points)
Replied 26 April 2019
if it's urban agricultural land and if it satisfies the condition prescribed in section 10(37) then it's exempted.
if it's urban agricultural land and acquired under rfctlarr act, then also it's exempted
if it's urban agricultural land and acquired under rfctlarr act, then also it's exempted
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