sir
one of the Clint non agriculture land purchased for the purpose of samrudhi mahamarg such land taxable or not
if exemption available of such land owner
plz explains the circular no 36/2016
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Complsury acquisition of non agriculture land
Replies (3)
consider the circular no 36/2016 read carefully
Circular No. 36 of 2016
The RFCTLARR Act which came into effect from 1st January, 2014, in section 96, inter alia provides that income-tax shall not be levied on any award or agreement made [except those made under section 46) under the RFCTLARR Act Therefore, compensation received for compulsory acquisition of land under the RFCTLARR Act (except those made under section 46 of RFCTLARR Act), is exempted from the levy of income-tax."
The RFCTLARR Act which came into effect from 1st January, 2014, in section 96, inter alia provides that income-tax shall not be levied on any award or agreement made [except those made under section 46) under the RFCTLARR Act Therefore, compensation received for compulsory acquisition of land under the RFCTLARR Act (except those made under section 46 of RFCTLARR Act), is exempted from the levy of income-tax."
thanku sir in my case state of Maharashtra governments land acquisition for samrudhi mahamarg.
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