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About exemption

KC Bundela (Proprietor) (21 Points)

25 April 2019

in which section is exempt if I received compensation from my acquired agriculture land by government of india

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4 Replies

Akhilesh (student) (308 Points)
Replied 25 April 2019

Is it rural agricultural land or urban?

4 Like

Abhishek Tiwari (Article) (22 Points)
Replied 25 April 2019

Compensation for Rural Agriculture land will always be exempt since its not a Capital Asset. For Urban Agricultural Land, I'm not sure if there is an exemption, but if it is, it should be under section 10

Kamini Sheth (owner) (311 Points)
Replied 25 April 2019

Check if it is acquired under RFCTLAAR act, 2014?

If yes, then it is exempted.

7 Like

rama krishnan (12234 Points)
Replied 26 April 2019

if it's urban agricultural land and if it satisfies the condition prescribed in section 10(37) then it's exempted.
if it's urban agricultural land and acquired under rfctlarr act, then also it's exempted