WHETHER ANY EXEMPTION AVAILABLE ON CAPITAL GAINS AMOUNT IN CASES OF COMPULSORY LAND ACQUISITION BY GOVERNMENT FOR BANGALORE METRO PROJECTS
IF IT IS AVAILABLE IT HELPS LOTS OF PEOPLE PLEASE HELP ME
Natesh (CA Practice ) (71 Points)
29 April 2008WHETHER ANY EXEMPTION AVAILABLE ON CAPITAL GAINS AMOUNT IN CASES OF COMPULSORY LAND ACQUISITION BY GOVERNMENT FOR BANGALORE METRO PROJECTS
IF IT IS AVAILABLE IT HELPS LOTS OF PEOPLE PLEASE HELP ME
SSA JI
(Ca Final )
(1970 Points)
Replied 29 April 2008
IF THE LAND IS FORMING THE PART OF INDUSTRIAL UNDERTAKING THEN EXEMPTION IS AVAILABLE U/S 54D OF INCOME TAX ACT .
CA Akshat
(article)
(422 Points)
Replied 01 May 2008
if agriculture land is agriculture land then section 10(37) exemption is available eventhough its urban land
if not then section 54B is available
CAclubindia
