Land acquisition by NHAI and railways under Income Tax
This query is : Resolved
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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?????
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?????
21 July 2022
In both the cases no income tax payable it's exempt from income tax.
21 July 2022
right SIR
should we report under Exempt Income while filing ITR
should we report under Exempt Income while filing ITR
21 July 2022
Yes, you can report under exempt schedule.
21 July 2022
thank you very much for your prompt reply SIR
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