In case of compulsory acquisition of non-agriculture land or building in the urban area, the capital gain tax will be required? land & building acquired under new acquisition act, 2013 for NH road.
please .....??
yes capital gain tax will be required.
sec.45(5):---if capital asset is compulsory aquired under any Law & consideration is approved by CG/RBI(not by state government),
then capital gain will be computed in the year in which initial amount of compensation is received.
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