DEAR SIR,
I HAVE RECEIVED A COMPENTION FROM COMPULSORY AQUISATION OF MY AGRICULTURAL LAND BY NHAI OF RS. 580000/- IN 2013-14 IN THIS I HAVE NO OTHER INCOME IN THIS YEAR PLEASE SUGGEST ME THAT WHAT ITR FORM I USE TO FILE MY INCOME TAX RETURN.
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Itr form
Replies (1)
If the agricultural land was in rural area [Refer S.(14)] then it is not a capital asset, no tax under any head
Otherwise it will be exempt u/s 10(37) [ITR -2 would be required]
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