LIVE GST Certification Course by CA Arun Chhajer begins 27th April. Register Now!!

land pooling amount

vijay mohan (162 Points)

24 August 2018

the amount received from ap govt towards land pooling as annuity will come under capital gain or agricultural incone

Reply
Follow
Share

3 Replies

Ruchika Somani (Coaching and Practice in Tax Audit Law.) (4429 Points)
Replied 24 August 2018

Compulsory acquisition of Land?

vijay mohan (162 Points)
Replied 24 August 2018

ANDHRAPRADESH GOVT acquires land under land pooling scheme for the development of amaravathi capital. in budget 2017 exemption was also given by FM.

Vaishali Jain (Currently working on improving my skills and capabilities) (2539 Points)
Replied 24 August 2018

Dear Sir,
the same is to be comsidered under Capital Gain
and
Acc to the prov of sec 10(37A) of IT Act :-
Capital gain arising to an Individual/HUF from
1) Transfer of capital assets under LAND POOLING SCHEME
2) Transfer of Land pooling ownership certificates
3) Transfer of reconstitued plot/Land/Building within a period of 2 yrs from the end of the FY in which possesion of reconstituted assets handed over
will be exempt from tax