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How Section 10(37) Impacts Tax Relief on Compensation for Agricultural Land Acquisition: Complete Guide

The compulsory acquisition of agricultural land by the government or any other public authority is a significant event that may involve a compensation payment to the landowner. The tax implications of receiving compensation for the compulsory acquisition of agricultural

“How to Handle Capital Gains Tax in the Case of Compulsory Acquisition Under Section 45(5A)”

The Income Tax Act, 1961 provides specific provisions for the taxation of capital gains arising from the compulsory acquisition of assets under Section 45(5A). When a government authority acquires a capital asset (such as land, property, or any other

What Are the Special Provisions for Taxing Capital Gains Arising from the Sale of Agricultural Land Under Section 54B?

Section 54B of the Income Tax Act, 1961 provides special provisions for the taxation of capital gains arising from the sale of agricultural land. The objective of Section 54B is to provide relief to farmers and individuals involved in

“How to Reduce Capital Gains Tax Using Exemptions from Sections 54, 54B, 54EC, and 54F”

Capital gains tax can be a significant liability for taxpayers, especially when they sell capital assets such as property, land, or securities. However, the Income Tax Act, 1961 provides various exemptions to help taxpayers reduce their tax burden. The

What is the complete meaning of “capital asset” under Section 2(14), and which assets are excluded from this definition?

A capital asset is a crucial term in the context of taxation, especially when it comes to the computation of capital gains under the Income Tax Act, 1961. Understanding what qualifies as a capital asset and what does not