Webcompulsory acquisition if the request does not meet the requirements of Article 40(3) of the Constitution name - ly acquisition for a public purpose or in public interest. Once the NLC is satisied that the conditions for compulsory acquisition are met it publishes a notice in the Kenya Gazzette, the land Registry and to WebFeb 3, 2024 · Any person, who is responsible for paying to a resident, any sum, being in the nature of compensation or the enhanced compensation or the consideration or the enhanced consideration on account of compulsory acquisition, under any law for the time being in force, of any immovable property (other than agricultural land) shall deduct TDS …
Capital Gain Exemption under the Income Tax Act - Learn by …
WebDec 8, 2024 · On December 8, the Supreme Court allowed the National Highways Authority of India (NHAI) to go ahead with the land acquisition process for the project to built a massive Rs.10,000 crore, 277-kilometre-long 8-lane “Greenfield” expressway from Chennai to Salem in Tamil Nadu. Web4 54D. 5 [(1)] 6 [Subject to the provisions of sub-section (2), where the capital gain arises] from the transfer by way of compulsory acquisition under any law of a capital asset, being land or building or any right in land or building, forming part of an industrial undertaking belonging to the assessee which, in the two years immediately preceding the date on … folkes plumbing and heating
Section 50C is not Applicable in case of compulsory acquisition of Land ...
WebAug 20, 2024 · satish kumar (Querist) Follow 20 August 2024 Compulsory Acquisition by NHAI of Agriculture land inducing Well ,Pump, Borwel, Pipes, farmhouse/House Constructed in Agriculture Land TDS Deducted sec 194LA whether Taxable or not If its Exempted how to Declare In ITR (TDS 10%) CA R SEETHARAMAN (Expert) Follow WebFrom the full value of consideration, cost of acquisition and cost of improvement should be deducted to arrive at the value of capital gain. Example: Indian Railway acquires an agricultural Land of Mr. Yogeswar Lal for Rs.100 Lakh in the financial year 2024-18 (AY 2024-19) and compensation of Rs.80 lakh is received in the financial year 2024-19 ... WebSection 54D provides tax exemption on capital gain from compulsory acquisition of land or building belonging to an industrial undertaking, provided that. The assessee (industrial undertaking) should have used the land or building for the purpose of its business for minimum 2 years immediately preceding the date of transfer, and. folkestone and hythe bin collection