Dear Sir/friends
In 2007 govt acquired my land and I received some additional compensation against it in 2016-17. They deducted TDS from my compensation. Now please tell me that where I have to show that that income. Capital gain or any exempted income.
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Acquisition of agricultural land by govt in rural area
Replies (4)
If it is agricultural land and situated beyond the specified limits from municipal area, there will be no capital gain. Additional compensation may be shown as exempted income and credit of tds may be claimed. It is my view.
agree with Dilip sir
sir
It is agricultural land and in rural area.
My opinion is also same. I'll show it in exempted income.
Thankyou very much for your guidance.
It is agricultural land and in rural area.
My opinion is also same. I'll show it in exempted income.
Thankyou very much for your guidance.
even if it is in rural area, double check whether it's in notified area or not... and also check whether this enhanced compensation falls under rfctlaar act
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