Is compulsory acquisition of non-agricultural land exempted under capital gain?
5 Replies
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
reference: circular No. 36/2016 dated 25/10/2016
chaithra
(CA)
(74 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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