Income tax applicable or not?
This query is : Resolved
MANJUNATHA M.R
(Querist)
16 January 2019
Dear Experts My client had received compensation from Government of Karnataka for putting high tension Electric Poles on his agricultural land. My query is While filing his IT Returns What head I have to shown? Whether is taxable? if Yes whether it is Capital Gain Tax or Other Income? Thanks in Advance.
Rajesh Kumar
(Expert)
16 January 2019
It is taxable. It shall form part of Other Income as there is no transfer of capital asset.
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