19 July 2015
sir, is compentation received aginst urban agricultural land acquired by NHAI is exempt U/s 10(37)? because the ITO obejecting that in second condition U/s 10(37)stating that,( the consideration for transfer should be determined or approved by central govt or RBI).but in our case compentation received from joint account held by project director(NHAI) & RDO state govt). please clarify me..
19 July 2015
Rural Agriculture Land is tax free whther sold under compulsary acquistion or not? under section 10(37) compulsary acquisition of land is exempt.
CAclubindia
