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Interest received on govt land acquisition

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TAX CONSULTANT
152 Points Posted on 26 July 2024
(1)WE HAVE RECEIVED INTEREST ON CENTRAL GOVERNMENT ACQUISITION LAND FROM COURT IT IS TAXABLE OR EXEMPT ,(2)AND AMOUNT RECEIVED ON ACQUISITION LAND FROM CENTRAL GOVERNMENT IT IS EXEMPTION OR CAPITAL GAIN TAX IS APPLICABLE
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On 26 July 2024 at 18:31 Report
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790 Points Posted on 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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On 02 August 2024 at 12:08


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