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Capital Gain
I have a land beside the national highway which was compulsorily acquired by the national highway authority to which I also received compensation. Will this compensation be chargeable to capital gains tax ?
Replies (3)
Yes. This transaction will be subject to capital gain tax. For further clarifications and queries , you can contact me at jyotsna308mishra @ gmail.com
Yes it is taxable if it is not agricultural land.
if it is agricultural land and located within specified area then it is not taxable.
In case of agricultural land you may claim exemptions u/s 54B
and if it is not agricultural land then you may go for section 54F
if it is agricultural land and located within specified area then it is not taxable.
In case of agricultural land you may claim exemptions u/s 54B
and if it is not agricultural land then you may go for section 54F
if the compulsory acquisition was made under RFCTLARR act then there's no capital gain in your case
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