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Capital gains

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 May 2014 A land held by an assessee for more than 3 years is acquired by the National Highways for laying national highways road. Is the capital gains arising due to the acquisition by the National highways liable for capital gains tax?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
01 May 2014 if it is agriculture land, then it is exempt under section 10(37) subject to conditions provided therein

any other land shall be subject to capital gains tax.
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