Compulsory Aquisition of Agriculture Land
This query is : Resolved
CA.Tarun Maheshwari
(Querist)
10 November 2008
I want to know, whether the agriculture land compulsorily aquired by the Govt. is taxable to capital gains or not. Please clarify alongwith the reference section. As per my knowledge, sale of agriculture land is not liable to tax, but what are the section references for compulsory aquisition of agriculture land?
10 November 2008
Pl refer section 10(37) of the income tax act,1961.
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