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Exemption from gain arising on compulsory acquisition
Is their any exemption from capital gains in case of compulsory acquisition of house property by Government, I want to know exemptions other than Section 54 exemptions i.e. 54 F, 54 D, 54 EC , etc. Is their any case law in regard to compulsory acquisition where the gain is exempted by Court.
Replies (3)
Dear Shashin,
, There is a section 54 D which deals with the exemption in case of Compulsory acquisition of land & building of Industrial Purposes...
But other than Industrial land or building - "Compulsory Acquisition is just another mode of transfer" & there is no separate exemption except Sec 10(37) in case of Agriculture Land
Sec 54 &/or Sec 54 EC can be claimed.
Thanks Amir Sect. 54 D is still there but it is for such land & buildings which are used for Industrial Purposes
Dear Shashin,
Thanks brother ya u r rite that sec is still there only explanation was deleted....
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