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compulsory acquisition of agricultural land
what is the treatment of compensation received from Railways in case of compulsory acquisition of agricultural land by the Railway Department?
Replies (3)
Compulsory acquisition of agricultural land is exempted us 10(37) subject to following conditions
It should be used for agricultural purpose for two years immediately preceding the date of transfer
It should be used for agricultural purpose for two years immediately preceding the date of transfer
Exempted under section 10(37) provided the land should have been used for agricultutal purposes for two years preceding the date of aquisition.
It is applicable to an individual or HUF only
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