COMPENSATION FROM COMPULSORY ACQUISITION OF LAND FROM BANGALORE METRO CORPORATION

[MVK TAXAUDIT]

What is the Tax Treatment of Compensation received from compulsory acquisition of land from Bangalore Metro Corporation, in case of Agricultural Land and Non Agricultural / Commercial property.

AI Summary

Tax Treatment of Compensation for Land Acquired by Metro Corporation: Agricultural vs. Commercial Properties Discussed A query was raised regarding the tax treatment of compensation received from the compulsory acquisition of land by Bangalore Metro Corporation, specifically concerning agricultural land and non-agricultural or commercial property. The discussion received one reply, questioning whether the inquiry pertained to income tax purposes or other considerations.