How to treat the compensation received from Reliance Company for cutting our trees on our own land.Whether Agricultural income Or Capital Gain !
3 Replies
Vijay
(CA)
(254 Points)
Replied 20 February 2008
HI
Its is neither agricultural invome nor capital gain. It is INcome from other Sources. Its not agricultural income cos agricultural activity is not done on the tree. It is grown naturally with span of time.
Pls let me know if any information required.
Regards
Vijay
Ashish Ranpara
(TAX CONSULTANT)
(369 Points)
Replied 20 February 2008
Income arise is nither agriculture income nor capital gain; it is an income from other source.
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