Capital gains
This query is : Resolved
02 April 2013
is residential building and land in rural area is liable for capital gains tax in compulsory acquisition by government. if yes kindly help in computing the same
02 April 2013
It is fully exempt u/s 54d
02 April 2013
dear sandip 54D is for industrial undertaking..
sec. 10(37) deals with compulsory acquisition of land. but therein agriculture land which is used by the person for agriculture purpose before two years and situated with in the 8 km. from the municipal limit of the city is exempt from capital gain.. but not the land on which not agriculture is done and used for residential purpose.
in your case if the house property is subject to the capital gain
sec. 10(37) deals with compulsory acquisition of land. but therein agriculture land which is used by the person for agriculture purpose before two years and situated with in the 8 km. from the municipal limit of the city is exempt from capital gain.. but not the land on which not agriculture is done and used for residential purpose.
in your case if the house property is subject to the capital gain
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- Under construction property in ITR
- PPF interest-As Exempt Income disclosure
- Section 194JA & JB Income which ITR Form to use
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- New Garden in Place of Old Garden
- Indian IT Portal issue in computing tax as per UK-India DTAA
- F & O PROFIT REPORTING FOR AY 2026-27
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
