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capital gain

prashant Kumar Singh (student) (247 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.