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Income tax on compulsory acquisition
what will be the tax implications on the amount of royalty received from the agriculture land acquired under compulsory acquisition if compensation received from land is exempt from capital gain under Income tax act
Replies (3)
For What purpose royalty is received?
Income tax on compulsory accquistion is not possible.
@ komal khemchandani goverment has agreed to pay royalty for the certain period in consideration along with the cash consideration for the acquired agriculture land to the owners
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