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06 January 2015 One Agricultural land has been compulsorily acquired by State govt. and compensation was paid in the form of cheque as well as some percentage as land. Compensation recd by cheque is tax free under sec.10(37). What about Gain rec from selling land recd as compensation.
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Amol S Joglekar

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Amol S Joglekar (Expert)
06 January 2015 It will follow the principles of normal capital gain.....period of holding etc..

If sold within 36 months, the gain will be short term.
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