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Capital gains tax on compulsory acquisiton of letout propert

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(Querist)
13 October 2011 is Profit on Compulsory Acquisiton of Let out Poperty is taxed as Capital Gains or it can be claimed exemption, if so under which sec.
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CA RICHA BADALIA

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CA RICHA BADALIA (Expert)
13 October 2011 It is taxable u/s 45(5).It will be treated as transfer in the year in which it is compulsorily acquired but capital gain will be charged in the year in which compensation or part thereof is first received.
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Anand

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Anand (Querist)
17 October 2011 Thanks, but if the capital Gain is received by an Individual & the proceeds are invested in Pur of another site during the same year, does it not get exempted U/s.54F as in the normal course of Sale? Pl. clarify.
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CA RICHA BADALIA

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CA RICHA BADALIA (Expert)
17 October 2011 The capital gain will be exempted but U/S 54

In case of compulsory acquisition time limit of 1-year, 2 years and 3-years is applicable from the date of receipt of compensation (whether original or additional).
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