How to show compensation received for agricultural land
This query is : Resolved
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COTTONCANDY
(Querist)
20 August 2021
asssessee received Rs. 12,00,000/- in F.Y. 2020-21 as compensation from national highway authority for compulsory acquisition of RURAL agricultural land.
the land is situated far from 20 kms from municipal corporation limit.
no tds is deducted by national highway of authority for the same.
Does assessee require to file return and if yes, how to show this compensation in the return?
the land is situated far from 20 kms from municipal corporation limit.
no tds is deducted by national highway of authority for the same.
Does assessee require to file return and if yes, how to show this compensation in the return?
CA R SEETHARAMAN
(Expert)
20 August 2021
No need to file ITR, it's exempt income.
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COTTONCANDY
(Querist)
20 August 2021
THANK YOU SO MUCH SIR
CA PARTH SHAH
(Expert)
21 August 2021
You should disclose it as exempt Income in ITR
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COTTONCANDY
(Querist)
23 August 2021
then how to show the exempted income?
i mean under which section need to show?
i mean under which section need to show?
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