Enhanced compensation received on compulsory acquisition
This query is : Resolved
10 September 2015
Enhanced compensation is received on compulsory acquisition of agriculture land in rural area. what about its taxability ? whether need to show tax computation in income from other source or income from capital gains ?
and finally the interest portion of enhanced compensation is taxable or not ?
and finally the interest portion of enhanced compensation is taxable or not ?
10 September 2015
Interest portion of the enhanced compensation is taxable(50% of interest can be claimed as deduction u/s 57 iv). Enhanced compensation on acquisition of rural agricultural land is exempted.
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