Regarding capital gain

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sanjay kumar (Querist)
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12 November 2013 Sir, One of my friends mother whose d.o.b 01/06/1935 . Her parental land in rular area Aquired by Land Acquisition Office and payment had made Rs. 918782 and TDS deducted Rs. 114136.My question is either recieved amount will treat as Capital Gain or it will go in Excempt Income for filing of return.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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12 November 2013 Refer Section 45(5). Shall be treated as capital gains. The cost of land shall be the fair value as on 1 April 1981 indexed to the year of acquisition (as under 45(5)).

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