Interest on compensation on acquisition of land: Tax Complexity
TAX TALK CA. NARESH JAKHOTIA Chartered Accountant Section 145A(b) provides that interest received by an assessee on compensation or on enhanced compensation, as the case may be, shall be deemed to be the income of the year in which it is received. It is not at all dependant on the method of accounting followed by the assessee. Interest on compensation on acquisition of land: Tax Complexity Query 1] My query is taxability of interest received under Land Acquisition Act. I own a land at Mouja-Chinchbhuwan on Amravati road, Nagpur. While widening the high way, my agricultural land admeasuring 0.1853 H.R. was acquired by National Highway Authority of India (NHAI). The amount of compensation awarded to me was Rs. 29,741/- only. I filed a case under Arbitration. The case went in my favour and the Arbitrator awarded me higher compensation of Rs. 8,44,968/-. In addition to this, I received Rs. 84,496/- being 10% of compensation for loss of e...
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ReplyDeleteAt Kingsbury Creations we have taken two well-loved stories and transformed them into exciting school musicals, perfect for junior schools and musical
theatre groups. Over the years these shows have proved so adaptable, they have been successful in a huge variety of productions all over the world from
KS2 primary school musicals to professional adult performances.
primary school shows