Compulsory acquisition of land
This query is : Open
05 January 2017
Will the compulsory acquisition of agricultural land in urban area attract capital gain?
What if
1. the land is not in urban area or
2. land is not agricultural?
What if
1. the land is not in urban area or
2. land is not agricultural?
05 January 2017
the connotation can be stated as below
1. agriculture land situated in rural are is not a capital assets hence not taxable at all.
2. agri land situated in urban area which is compulsorily acquired is also exempt from tax provided it has been used for agri purpose before 2 yrs before the transfer and compensation is received after 31/03/2004.
i hope you got your solution.
1. agriculture land situated in rural are is not a capital assets hence not taxable at all.
2. agri land situated in urban area which is compulsorily acquired is also exempt from tax provided it has been used for agri purpose before 2 yrs before the transfer and compensation is received after 31/03/2004.
i hope you got your solution.
Message likes :
1 times
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- MSME disclosure and disallowance
- Taxation of crypto futures in India Fy 2026- 2027
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Issuing of delivery challan by seller of goods
- EPF ECR NEW RULES Sep 17th 2026
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
