site stats

Compulsory acquisition of land by nhai

WebMy agricultural land was compulsorily acquired under the NHAI act in 2010. Some enhanced compensation was received by me in 2024 and the case is still pending in high court. I am confused if I will need to pay capital gains tax on the compensation received. As I said the acquisition was done in 2010. WebNov 21, 2024 · The order directed the NHAI to pay the compensation at the rate of ₹ 2,700 per square meter, which was later reduced to ₹ 2,200 per square meter. The Bombay High Court has said that when the...

Do you need to pay tax on compensation received for land …

Web(i) if the amount of the capital gain is greater than the cost of the land, building or right so purchased or the building so constructed (such land, building or right being hereafter in this section referred to as the new asset), the difference between the amount of the capital gain and the cost of the new asset shall be charged under section … 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 fury warrior trinket list https://metropolitanhousinggroup.com

Taxability – Compulsory Acquisition of Capital Asset

WebMay 29, 2024 · As no distinction has been made between the compensation received for compulsory acquisition of agricultural land and non-agricultural land in the matter of providing exemption from income-tax under the RFCTLARR Act, the exemption provided under Section 96 of the RFCTLARR Act is wider in scope than the tax-exemption … WebFeb 28, 2024 · The CIT (A) held that the assessing officer was not justified in invoking Section 50C of the Act on the land which was compulsorily acquired for NHAI and directed to re-compute the capital gains without applying Section 50C of the said Act. Further the addition made towards the shortage of coal was also deleted. WebSec. 50C won't apply on compulsory acquisition of land by NHAI as stamp duty isn’t payable on such transfer: HC - PCIT v. Durgapur Projects Ltd - [2024] (Calcutta) New ; AO to release refund beyond 20% of tax demand even if 65% of tax demand adjusted by CPC: HC - Neo Structo Construction (P.) Ltd. v. ACIT - [2024] (Gujarat) New given sinx 0.6 and cosx 0.8. what is tanx

Compulsory Acquisition of Land – Tax Exemption Rules

Category:Supreme Court gives the go-ahead for the NHAI to acquire land …

Tags:Compulsory acquisition of land by nhai

Compulsory acquisition of land by nhai

SC says payment of solatium, interest must for land taken to …

WebFeb 8, 2024 · Compulsory acquisition of non - agri land by nhai. bharathi (Student CA IPC / IPCC) (50 Points) 08 February 2024. is Compulsory acquisition of non - agri land by NHAI for the purpose of national highway taxable as capital gains ?? WebThe National Land Commission (NLC) is mandated under section 107 of the Land Act to acquire land compulsorily on behalf of both the national and county governments. The process starts when a cabinet secretary or a county executive committee member. submits a request for compulsory acquisition of land to the NLC.

Compulsory acquisition of land by nhai

Did you know?

WebOct 27, 2016 · 6. If any land has been purchased through private negotiations by a person on or after the 5 th day of September, 2011, which is more than such limits referred to in sub-section (1) and, if the same land is acquired within three years from the date of commencement of this Act, then, forty per cent. of the compensation paid for such land … WebMar 4, 2024 · Assessee, a company, transferred land under compulsory acquisition to the National Highways Authority of India (NHAI). During the assessment proceedings, the Assessing Officer (AO) computed the capital gains on such land by considering the provisions under section 50C i.e., considering the stamp duty value of such land.

WebMar 25, 2024 · The RFCTLAAR Act was brought into force in 2014 but Income Tax Act for Agriculture Land was amended in 2004. As per Section 96 of the RFCTLARR Act income-tax shall not be levied on any award or agreement made (except those made under section 46) so compensation received for compulsory acquisition of land except those made … WebApr 11, 2024 · However, met with land acquisition hurdles, the expressway is unlikely to finish before the general elections in 2024. The bidding process for the two expressway stretches in Gujarat is facing inordinate delay and the National Highways Authority of India (NHAI) has not specified the date to start construction.

WebJul 19, 2024 · My agricultural land was compulsorily acquired under the NHAI act in 2010. Some enhanced compensation was received by me in 2024 and the case is still pending in high court. I am confused if I will need to pay capital gains tax on the compensation received. As I said the acquisition was done in 2010. Are you able to please help out. … 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.

WebCBDT notifies the Cost Inflation Index (CII) for FY 2024-24 vide Notification No. 21/2024 dated 10th April 2024 for the purpose of calculating the Indexed Cost…

Web1 in 4 infra projects in India runs over budget while half of them are delayed. As per MoSPI, out of 1,438 projects in India, as many as 343 reported cost… 13 ความคิดเห็นบน LinkedIn givens kids what\u0027s happeningWeb4 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 … fury warrior weak aura 9.2WebFeb 3, 2024 · Compulsory acquisition is the power of the government to acquire land from its owner without the willing consent of the owner in order to benefit society. How can I claim a TDS refund? You need to file a TDS refund claim when the deductor has deducted more tax than the actual liability. fury warrior venthyr soulbinds