Exempt capital gains as per cbdt circular no 36/2016
This query is : Resolved
Chandrasekhar
(Querist)
04 September 2017
As per the above circular compensation received on compulsory acquisition of land vide section 96 of the RFCTLARR Act also shall not be taxable under the provisions of the Income Tax Act, 1961 even though there is no specific provision of exemption for such compensation in the Income Tax Act, 1961.
Now the question where to show the capital gain as exempt in ITR 6 (assessee requiring to file ITR 6) as there is no provision in the ITR 6 for this item. Kindly advise\throw some light on this issue.
Now the question where to show the capital gain as exempt in ITR 6 (assessee requiring to file ITR 6) as there is no provision in the ITR 6 for this item. Kindly advise\throw some light on this issue.
05 September 2017
Please show in schedule EI, sl no.5
Chandrasekhar
(Querist)
06 September 2017
Thanks for the prompt reply sir
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