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compulsory acquisition of agricultural land

19 August 2018

what is the treatment of compensation received from Railways in case of compulsory acquisition of agricultural land by the Railway Department?

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Suraj Agarwal (40 Points)
Replied 19 August 2018

Compulsory acquisition of agricultural land is exempted us 10(37) subject to following conditions
It should be used for agricultural purpose for two years immediately preceding the date of transfer

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Vaishnavi Ganesh (Chartered Accountant) (861 Points)
Replied 19 August 2018

Exempted under section 10(37) provided the land should have been used for agricultutal purposes for two years preceding the date of aquisition.

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Suraj Agarwal (40 Points)
Replied 19 August 2018

It is applicable to an individual or HUF only

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