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About exemption

227 views 4 replies

KC Bundela

Proprietor

21 Points Joined September 2018

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

Replies (4)

Akhilesh

student

313 Points Joined January 2019

Is it rural agricultural land or urban?

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 Joined January 2018

Check if it is acquired under RFCTLAAR act, 2014?

If yes, then it is exempted.

rama krishnan

12244 Points Joined May 2017

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