Land compulsarily acquired by nhai
This query is : Resolved
CA.AZAD JAIN
(Querist)
02 January 2018
Does land compulsarily acquired by NHAI in December 2014 fall under the ambit of the RFCTLARR Act. If so can an exemption be claimed for the awarded compensation?
Prakash Kochar
(Expert)
03 January 2018
Compensation received in respect of award or agreement, land compulsorily acquired under sect. 96 of the RFCTLARR Act not taxable under the provisions of Income tax Act, even if there is no specific provision of exemption for such compensation in the Income tax Act, 1961.
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