how to treat Compensation received under RFCTLARR Act ?
Income from Business and profession - 1,74,950
Compensation received for compulsory acquisition of agriculture land - 16,65,777 ( including 100 % Solatium)
Compensation received for compulsory acquisition of house - 20,98,000 (including 100 % Solatium)
TDS deducted on 1049000 ( u/s 194 LA) is 1049000
IS it exempt income or it will be taxable under LTCG? (the client is also constructing new house )
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