Compensation for land by govt
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 July 2012
A land was taken away by the govt ,and it paid some compensation.
Under which head it should be considered,please explain in detail.
If some amount of such compensation is given to his brother then how should it be treated.
Under which head it should be considered,please explain in detail.
If some amount of such compensation is given to his brother then how should it be treated.
CA PARAS BAFNA
(Expert)
08 July 2012
It is important to know the nature of the land, whether it is an agriculture land or otherwise.
.
In case of Agriculture land the compensation received is exempt U/s 10(37) .
.
.
In case of Agriculture land the compensation received is exempt U/s 10(37) .
.
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