Tax laibility in case compulsory Aquisition on Agri. land
This query is : Resolved
12 August 2009
Dear member
Will u help me . i wnt to knw about tax laibility in case capital gain on compulsory aquistion on agriculture land by state govt.
Will u help me . i wnt to knw about tax laibility in case capital gain on compulsory aquistion on agriculture land by state govt.
12 August 2009
Capital gain on transfer of agricultural land is exempt u/s 10(37) 0f the Income tax Act,1961 w.e.f assessment year 2005-06 provided the assessee should satisfy four conditions mentioned therein.
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