Regarding Interest on Enhanced Compensation
This query is : Resolved
28 June 2025
Respected Colleagues,
A person had received Interest (194A) on enhanced compensation of Compulsory Acquisition of RURAL Agriculture Land in FY 2017-18 and filed ITR with only FD Interest Income without taxing 50% Interest on enhanced compensation in ITR with the intent that interest on Enh. Comp. was fully exempt being rural agriculture land not a capital asset, Now kindly advice whether 50% Taxed or fully exempt?
A person had received Interest (194A) on enhanced compensation of Compulsory Acquisition of RURAL Agriculture Land in FY 2017-18 and filed ITR with only FD Interest Income without taxing 50% Interest on enhanced compensation in ITR with the intent that interest on Enh. Comp. was fully exempt being rural agriculture land not a capital asset, Now kindly advice whether 50% Taxed or fully exempt?
01 July 2025
should be tax exempt since this is agricultural land. refer Union of India Vs. Hari Singh dated 15th September 2017. Though, please do check if there is any case law superseding this one.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Fixe term employment
- Is any professional CA is here please reply
- GST ITC REVERSE
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Putting a heading on received mail
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Experts need help
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
