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Compulsory acquisition of land by nhai

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 WebFeb 6, 2024 · Capital Gains on the compulsory acquisition of old land or building of industrial undertaking Example: Ravi sold a house property in FY 2024-22 for Rs. 60,00,000. He purchased the property in FY 2016-17 for Rs. 30,00,000. And he purchased a new …

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WebMar 30, 2024 · Compensation on compulsory acquisition of land is tax free. The amount would be tax free even if. The compensation pertains to land which is not an agricultural land. The TDS has been done at the time of making the payment. It may be noted that there is no specific provision under the Income Tax Act, 1961 whereby the capital gain arising … WebSep 20, 2024 · The Supreme Court (SC) has ruled that landowners must be given solatium and interest apart from compensation awarded to them, when their land is acquired for construction of highways. of India. The section says that no provision of the Land Acquisition Act, 1894, shall apply to an acquisition under the National Highways Act. get a free smartphone today https://daisyscentscandles.com

Section 194LA : TDS on Payments of Compensation on Acquisition …

WebFeb 8, 2024 · isCompulsory acquisition of non agri land by NHAI for the purpose of national highway taxable as capital gains - Income Tax WebMay 19, 2024 · Part of land is acquired by the NHAI and paid us the compensation. This compensation is less than the actual cost of the part of land that is acquired. Request you to kindly let me know the accounting treatment and Income tax treatment for the same. Thanks in Advance. CA R SEETHARAMAN (Expert) Follow. 19 May 2024 Such payment is … christmas in cambridge wi

Taxability of compensation on compulsory acquisition of non ...

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Compulsory acquisition of land by nhai

Section 194LA : TDS on Payments of Compensation on Acquisition …

Web5 hours ago · The land in which the school was established was also notified for acquisition which led to demolition of the entire school building. NHAI awarded a compensation of about Rs. 67 lakh. 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...

Compulsory acquisition of land by nhai

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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… WebOct 26, 2016 · Section 96 of the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 provides for exemption form income tax for all compensation against compulsory acquisition of land whether rural or urban and whether agricultural or non-agricultural to all assessees irrespective of status …

WebDec 8, 2024 · The NHAI had filed a plea in the Supreme Court asking it to vacate the Madras High Court’s order. In June 2024, a vacation bench of the apex court comprising Justices Indu Malhotra and M.R. Shah had refused to stay the Madras High Court order quashing the land acquisition process and had issued notices to the various stakeholders. 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.

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 … 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. …

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

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. christmas in bulgaria 2023WebFeb 23, 2024 · Lower of Cost of New Agricultural Land OR Capital Gains: Purchased within 2 years from the sale of land: Land sold must be used for agriculture purposes for 2 years prior to sale: 54D: Compulsory acquisition of land and building (LTCA) used in an industrial undertaking: Purchase of land or building for shifting or re-establishing the … christmas in cambridge ukWebMar 4, 2024 · Facts of the Case. 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 … christmas in canada 2021WebFeb 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 ?? get a free shutterstock footageWebOct 29, 2024 · Compulsory acquisition is the government’s power to acquire private rights in land – even without the owner’s consent – for the development of society. The government pays due compensation against such an acquisition and the capital gains are calculated as per the provisions of the Income Tax Act, 1961. get a free sim cardWebApr 19, 2024 · A. Compulsory acquisition of land by a government agency is construed as a transfer under Income Tax Act, and requisite Capital Gains Tax is attracted, which is to be computed as per the ... get a free sms numberWebFeb 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. get a free straight talk phone