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
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.
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