PVT LTD COMPANY'S LAND IS ACQUIRED BY NHAI for LAND EXTENSION ON MARCH 2019, WHETHER the COMPENSATION RECEIVED IS TAXABLE OR NOT? IS SEC 46 of RFCTLARR ACT IS APPLICABLE IN THIS CASE?
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Cumpolsory acquisition of land
Replies (2)
No, not taxable to any person who is owner of the land.
THANK YOU.
Section 96 of RFCTLARR Act says that compensation received for compulsory acquisition on agricultural land & non agricultural is exempt & tax cannot be levied (except those made under section 46 of of RFDCTLARR Act).
But Section 46 specifically provides provisions relating to Rehabilitation & resettlement. My question is what about the provision relating to land acquisition?
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