Question ID : 35865

TAXABILITY OF COMPENSATION FOR ACQUISITION UNDER RFCTLARR ACT

COMPENSATION HAS BEEN PAID TO THE ASSESSEE FOR ACQUISTION OF LAND AND BUILDING BY NHAI UNDER RFCTLARR ACT.COMPENSATION HAS THREE COMPONENTS AS BELOW: 1.VALUE OF LAND. 2.VALUE OF BUILDING. 3.INTEREST ON DELAYED PAYMENT. KINDLY ADVICE ARE ALL OF THE THREE PAYMENTS ARE EXEMPT FROM INCOME TAX OR IF ANY ONE OF THE ABOVE IS TAXABLE. LAND IN NON AGRICULTURE .

posted by vikas kalra on Nov 12 2018 12:00AM