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capital gain

prashant Kumar Singh (student) (246 Points)

01 January 2019

is compensation received for compulsory acquisition of agriculture land taxable as a capital gain

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Mayur Patil (Article) (1276 Points)
Replied 01 January 2019

Nope, exempt u/s 10(37) if urban agricultural land.
And rural agricultural land not considered as capital asset u/s 2(14) so no CG in any case.

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Raveesh Srivastava (Article) (111 Points)
Replied 01 January 2019

1-If your land is rural agricultural land,no capital gains because such land is not a capital assest
2-If your land is urban agricultural land, your capital gain is exempt under sec 10(37).For this exemption there are some conditions to avail such benefit.

PARVEEN DAHIYA (181 Points)
Replied 01 January 2019

if urban agri land is compulsary acquired then income is exempt. but if sale of urban agri land then it is tacable as capital gain.

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