Tax treatment for compensation for agriculture land

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Abhishek Gahlot (Querist)
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25 July 2014 what is the tax treatment of compensation received regarding agriculture land acquired by state government ?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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25 July 2014 the compensation and enhanced compensation is exempt.

interest received on compensation and enhanced compensation is taxable as income from other sources.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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25 July 2014 the compensation and enhanced compensation is exempt.

interest received on compensation and enhanced compensation is taxable as income from other sources.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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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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