Enhance compensation on compulsory acquisition of rural agriculture land
ANIL WAJJAL (4 Points)
14 December 2022I have received enhance compensation from state government is it taxble or exempt?
and which itr will be select
ANIL WAJJAL (4 Points)
14 December 2022
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(183252 Points)
Replied 14 December 2022
Any Compensation or Enhance compensation received by compulsory acquisition of RURAL Agricultural Land, is exempt under Income tax act.
However, interest received over it will be taxable u/h. IFOS.