Compulsary Acquisition under Land acquisition act

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This discussion clarifies whether non-agricultural land compulsorily acquired by the government is exempt from tax under the Land Acquisition Act. It confirms that acquisitions under the RFCTLAAR Act (which replaced the earlier Land Acquisition Act) are indeed tax-exempt. This exemption has been applicable since 2016, as detailed in circular no. 36.

Upasana

Upasana (Querist)
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26 July 2023 Whether non agricultural land compulsorily acquired by government exempt from tax under Land Acquisition Act or not?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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26 July 2023 Yes, if acquired under RFCTLAAR act...

Upasana

Upasana (Querist)
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27 July 2023 I have read RFCTLARR is replacement to earlier Land Acquisition Act. Is it true? Because with this any acquisition coming under Land Acquisuiton Act will be exempt.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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27 July 2023 Yes, applicable from 2016 wide circular no/ 36.
Refer:: https://incometaxindia.gov.in/communications/circular/circular362016.pdf

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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13 September 2024 Good luck.

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