Compensation for compulsory land acquisition under the RFCTLARR Act exempt from income tax from April 1, 2026. The Income tax Schedule is amended to exempt income from awards or agreements made on account of compulsory acquisition of land under the RFCTLARR Act ... Summary
Compensation for compulsory land acquisition under the RFCTLARR Act exempt from income tax from April 1, 2026.
The Income tax Schedule is amended to exempt income from awards or agreements made on account of compulsory acquisition of land under the RFCTLARR Act (excluding those specifically excepted under that Act), codifying that such compensation is not taxable under the Income tax Act and resolving prior ambiguity.
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