Land acquisition by NHAI and railways under Income Tax

This query is : Resolved 
Quick Summary
Compensation received for land acquired by NHAI for highway expansion or by Indian Railways for new rail lines is generally considered taxable under income tax. However, there are provisions for exemption. Beneficiaries should report this compensation under the exempt income schedule when filing their Income Tax Returns (ITR).

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(Querist)
21 July 2022 Dear Sir,
Land is acquired by NHAI for expansion of High Way 2-LANE Into 4-LANE and compensation is given to beneficiary is TAXABLE UNDER INCOME TAX ????
Land is also acquired by INDIAN RAILWAY for new RAIL LANE, money received by beneficiary is TAXABLE OR NOT?????
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
21 July 2022 In both the cases no income tax payable it's exempt from income tax.
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VIKAS KUMAR SHARMA

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VIKAS KUMAR SHARMA (Querist)
21 July 2022 right SIR
should we report under Exempt Income while filing ITR
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
21 July 2022 Yes, you can report under exempt schedule.
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VIKAS KUMAR SHARMA

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VIKAS KUMAR SHARMA (Querist)
21 July 2022 thank you very much for your prompt reply SIR
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