HEMANTH RANKA (Tax & Financial Consultants) (360 Points)
28 May 2018Whether the amount of compenstation awarded towards structures and trees on NA Residential Land compulsorily acquired for National Highway by NHAI taxable as sale consideration or taxable separately, if yes under which head?
rama krishnan
(12239 Points)
Replied 28 May 2018
HEMANTH RANKA
(Tax & Financial Consultants)
(360 Points)
Replied 29 May 2018
It is acquired under NHAI Act & Notification, Further the amount towards Land is not paid since the land was held to be of public utility, but the compensation towards structures and trees is given, now the issue is whether the same is liable to Tax or Not? Further if there is any exemption under which section?
CAclubindia
