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Interest on compensation on complusory acquisition of land

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(Querist)
23 June 2012 please clarify whether interest received on the amount received for compulsory acquisition of land and it is taxable under which section of income tax act. please clarify a case law
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Soumitra Basu

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Soumitra Basu (Expert)
24 June 2012 It will be taxable on the same system as the compensation.
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SHILPA

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SHILPA (Expert)
27 June 2012 IT IS TAXABLE UNDER INCOME FROM OTHER SOURCES SUBJECT TO DEDUCTION OF 50% . PLEASE CHECK UNDER THE HEAD INCOME FROM OTHER SOURCES




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