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
26 March 2018
Exemption u/s 54 is available for gains from residential property
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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