Capital gain agriculture land acquisition
This query is : Resolved
19 April 2013
Sir, compensation received by farmer on acquisition of agriculture land by government will attract capital gain if land is in urban area. But haryana govt. Send recomemndation for exemption this capital gain tax to centre in 2011. Can you please clear about taxability of capital gain in haryana of such compensation amount
20 April 2013
U/S 10(37)it is exempted, if the land is situated in specified area reffered sec 2(14).
05 June 2013
If the land is out of the Municipal Area and you have been doing agriculture since past 2 years before acquisition then it is exempted otherwise it is taxable under Capital Gains
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