Interest received on govt land acquisition
B GKAMATAR (TAX CONSULTANT) (145 Points)
26 July 2024B GKAMATAR (TAX CONSULTANT) (145 Points)
26 July 2024
Kev Men
(788 Points)
Replied 02 August 2024
Capital gain tax is applicable u/s 45(5) for compulsory acquisition of land from central government.
Interest on compensation is taxable u/s 56(viii).
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