CLIENT RECEIVED RS 15 LAKH FROM STATE GOVT AS COMPULSORY ACQUISITION OF HIS LAND & BUILDING ON AUGUST 17.
IN MARCH 2018 THEY RECOVERED RS 1.5 LAKH FROM BANK ACCOUNT AS TDS @ 10% AFTER GIVING A NOTICE THAT ACQUIRED LAND IS NOT ACQUIRED THROUGH Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 AND SAME IS ACQUIRED BY PREVIOUS LAW
MY QUERY IS WHETHER COMPENSATION IS TAXABLE UNDER CAPITAL GAIN?
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