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new land acquisition act, capital gain
In case of compulsory acquisition of non-agriculture land or building in the urban area, the capital gain tax will be required?
Replies (4)
yaa...
As per section 45(5)
When the transfer of a capital asset (in this case land or building ) is by way of compulsory acquisition under any Law.
When a capital asset is transferred (not by way of compulsory acquisition ) & consideration is approved by the Central government or RBI
When the transfer of a capital asset (in this case land or building ) is by way of compulsory acquisition under any Law.
When a capital asset is transferred (not by way of compulsory acquisition ) & consideration is approved by the Central government or RBI
if the compulsory acquisition of your property falls under RFCTLARR act then no capital gains
thanx sir
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