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Can anyone explain the concept of 10(37A)
NHAI aquisition of land ...the reward amount is received is complete exempt from tax.levy...if yes can some pl suggest a case study
Replies (1)
There is no tax exemption under Section 10(37A); you are likely referring to Section 10(37), which exempts capital gains on the compulsory acquisition of agricultural land for individuals and HUFs, provided the land was used for agriculture in the two years prior to acquisition. Additionally, acquisitions under the RFCTLARR Act are generally exempt under Section 96 of that Act.
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