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.

[DR.MARIAPPAN GOVINDARAJAN]

For income tax purposes or for other?

AI Summary

Tax treatment of compensation for compulsory land acquisition questioned for agricultural versus non agricultural property implications. Query on tax treatment of compensation for compulsory acquisition by Bangalore Metro Corporation contrasts agricultural land with non agricultural/commercial property and asks whether the question concerns income tax or other fiscal consequences.