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Taxability of the compensation received by the land owners for the land acquired under the Right to Fair Compensation and Transparency in Land Acquisition Rehabilitation and Resettlement Act 2013 ( RFCTLAAR Act )-reg.

Taxability of the compensation received by the land owners for the land acquired under the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 ( RFCTLAAR Act )-reg. - Income Tax - 36/2016 - Dated:- 25-10-2016 - Circular No. 36 of 2016 F.No. 225/S8/2016-ITA.II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Dated: 25th October, 2016 Subject: Taxability of the compensation received by the land owners .....

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inserted section 10(37) in the Act from 01.04.2005 to provide specific exemption to the capital gains arising to an Individual or a HUF from compulsory acquisition of an agricultural land situated in specified urban limit, subject to fulfilment of certain conditions. Therefore, compensation received from compulsory acquisition of an agricultural land is not taxable under the Act (subject to fulfilment of certain conditions for specified urban land). 2. The RFCTLARR Act which came into effect fr .....

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