Capital Gain on Compulsory Acquisition of Asset

 Dear sunali,

                      I guess sec 54H says the date of calculating the period for exemptions US 54 54B 54 D and 54F will be from the date of receipt of compensation and not date of transfer.So check that out. I dunno about any other provisions

I dint mention 54EC cos i dint read it in the book. So am not sure abt tat part as to whether it can be invested within 6 months from the such receipt of compensation or date of transfer

sec 54H says the date of calculating the period for exemptions US 54 54B 54 D and 54F will be from the date of receipt of compensation and not date of transfer

SEC 54EC not in capital gain account scheme

Hey guys...of course, the date is considered from the date of receipt of compensation...but the person has received the same in 2008-2009 and haven't deposited the same in Capital Gain Scheme before 31st July, 2009 nor invested the same as per sec 54 etc....

???

Agree with Sunali......the amount has to be deposited in capital gains scheme before the due date of filing return inorder to claim exemption... in this case since it is not deposited no way to go just pay the tax...

Compulsory acquisition of urban Agriculture land is exempt. shop is not exempt.

No deduction can be claimed now. pay the tax with interest.

First of all freinds, government has the right to acquire the land and acquisition of building is not generally resorted to by the government.

So we shall review this as a case of compulsary acquisition of urban land.

For that you need provide the necessary details of the case.

Also get an expert opinion on the matter if this is a real case and dont ask for its solution like this in public.