Enhanced compensation
This query is : Resolved
26 March 2018
Sir,
A person has received enhanced compensation on account of compulsory acquisition of non agricultural land from the government during the assessment year 2017-18. Earlier he has received compensation for the same and claimed exemption under sec 54F. Does the enhanced compensation received attracts exemption under sec 54? Please clarify. Thanks in advance
A person has received enhanced compensation on account of compulsory acquisition of non agricultural land from the government during the assessment year 2017-18. Earlier he has received compensation for the same and claimed exemption under sec 54F. Does the enhanced compensation received attracts exemption under sec 54? Please clarify. Thanks in advance
K Srinivas, CMA CS
(Expert)
26 March 2018
Exemption u/s 54 is available for gains from residential property
CA Rashmi Gandhi
(Expert)
26 March 2018
You cant claim exemption u/s 54. When a person invest in H.P.out of sale proceeds received from sale of H.P.
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