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land acquisition by govt.

prasad (government employee) (225 Points)

18 September 2018

whether land taken by government n received on transfer of agriculture land is taxable

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2 Replies

Pranjali (intern) (2216 Points)
Replied 20 September 2018

No, it is not taxable.

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Ashwin Kumar (1234 Points)
Replied 20 September 2018

cumpolsory acquisition of land is taxable and tds to be deducted under section 194la. however if the said land is a agricultural land then the consideration is exempted. however interest arising on such consideration is taxable under the head income from other sources.