Capital gain exemption

chaithra (CA final) (71 Points)

24 November 2016

Is compulsory acquisition of non-agricultural land exempted under capital gain?

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CMA Poornima Madhava (CMA) (13112 Points)
Replied 24 November 2016

As I understand, it is taxable as per provisions of sec 45(5).

Mahadevaprasad M (Student) (30 Points)
Replied 24 November 2016

not taxable.
reference: circular No. 36/2016 dated 25/10/2016

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chaithra (CA final) (71 Points)
Replied 24 November 2016

but new circular has been issued (36/2016) on 25th ocober, 2016 under the RFCTLARR Act 2013, showing that it is an exempted income.

Mahadevaprasad M (Student) (30 Points)
Replied 24 November 2016

by Government of India ministry of finance, Department of revenue central board of direct taxes

SINIVASARAO M (MANAGER EXPORTS) (36 Points)
Replied 25 November 2016

IT is exempt under new act 36/2016 circular

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