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Capital gain on compulsary acquition by govt

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Querist : Anonymous

Querist : Anonymous (Querist)

21 March 2012 the urban agricultural land was compulsorily acquired by govt in 2005 and compensation was received in 2005 in form of T.D.R by mr.x. mr x died in 2010 and tdr were sold by son of mr x in 2010 whether amount received will be charged to capital gain if yes what will be its cost of acquisition in the hands of son.

Krishna Mohan

Krishna Mohan (Expert)
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21 March 2012 Please mention, that whether Mr.X paid capital gains tax for the year 2005-06. If he has paid so, cost of acq. to his son will be value of TDRs.

Querist : Anonymous

Querist : Anonymous (Querist)

21 March 2012 no mr.x did not paid the tax since it was exempt. now what will be sons cost of acq. value of tdr in year 2005 or in 2010 when his father is died. am making a new query please answer that.

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