Income tax on nhai acquisition

this is a case of compulsory acquisition. capital gain shall be computed on such transaction and will be accordingly taxed.

you have two options to save tax for this gain.

1. invest in bonds of NHAI/REC with lock in period of 3 years and claim exemption of sec 54EC

2. invest in purchase of house property  and claim exemption of sec. 54F.

Compute the long term capital gains. You may invest this LTCG in another property or in bonds to save tax.

Sir, their is one more thing that, the land was in category of agriculture in year 2008 , goverment itself change it into residential, no 143 has been done for change agriculture to residential (as it comes inside NAGAR PALIKA zone) and acquision held in 2009, than how tax will be caculated on this issue.

                whether the value of land will be calcuted under residential value or no tax will be applied or 20% including TDS deducted by goverment.

thanks

thanks sir

than the capital gain will be calculated on residential value, base value will be the purchase value + capital index or the convert the base value (which is primarily agriculture) into residential value and sir TDS will be adjusted or not.

In one about message Mr. Tribhuvan has rightly said 

Invest in purchase of House Property and clain exemption under section 54F

Whether House Property means only residential property ? Whether person can purchase commercial property like shop from it and claim exemption