Tax treatment for compensation for agriculture land
This query is : Resolved
Abhishek Gahlot
(Querist)
25 July 2014
what is the tax treatment of compensation received regarding agriculture land acquired by state government ?
Nikhil Kaushik
(Expert)
25 July 2014
the compensation and enhanced compensation is exempt.
interest received on compensation and enhanced compensation is taxable as income from other sources.
interest received on compensation and enhanced compensation is taxable as income from other sources.
Nikhil Kaushik
(Expert)
25 July 2014
the compensation and enhanced compensation is exempt.
interest received on compensation and enhanced compensation is taxable as income from other sources.
interest received on compensation and enhanced compensation is taxable as income from other sources.
29 July 2014
int income is taxable under income from other sources to the extent of only 50% as deduction is allowed u/s 57.
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