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Tax on agricultural land acquisition.

ITR 187 views 2 replies

kaushal sharma

ARTICLE

1 Points Joined January 2012

Hi our agricultural land has been acquired by government, I just want to know in which section I will declare this amount in my ITR also want to know is this amount come under TAX or not.

hi our agricultural land has been acquired by government

Read more at: https://www.caclubindia.com/forum/compulsory-acquisition-of-agricultural-land-490549.asp

Replies (2)

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

198772 Points Joined July 2016

Under which act the land is acquired by authority?

Whether the land is in rural area or urban?

Kapadia Pravin

17264 Points Joined December 2018

Taxability of Agri land depends upon location of the land how much kms away from municipal limits and other conditions.
if taxable then under CG schedule
if exempt then under EI schedule