Taxation of Enhanced compensation from urban agricultural land
This query is : Resolved
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Vikhas Ravi
(Querist)
23 May 2023
Hi,
Whether enhanced compensation received along with interest thereon by way of court order from compulsory acquisition of urban agricultural land is exempted under section 10(37).
Whether enhanced compensation received along with interest thereon by way of court order from compulsory acquisition of urban agricultural land is exempted under section 10(37).
23 May 2023
Principal portion is exempt u/s.10(37) and interest portion is taxable u/s 56(2)(viii) r.a.w.57(iv).
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Vikhas Ravi
(Querist)
23 May 2023
Thank you sir, for your valuable time.
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