compulsory acquisition of capital asset by govt

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  1. swapna singh

    swapna singh New Member

    Whether consideration on compulsory acquisition of capital asset by govt.. taxable at the time of receipt or at the time of final order of tribunal is made .
    THANK YOU.
     
    swapna singh, Feb 18, 2015
    #1
  2. sarvagya jain

    sarvagya jain New Member

    when u will receive the money you will need to pay tax............the mantra to remember is
    Jab milega(consideration) tab bharenge(Tax)
    Nahi milega(consideration) nahi bharenge(Tax)
     
    sarvagya jain, Feb 18, 2015
    #2
    Parul_Gupta likes this.
  3. swapna singh

    swapna singh New Member

    Mr savagery Jain, just check the amendment for A.Y 2015-16..it says that consideration received on compulsory acquisition of capital asset is taxable at the time of final order of tribunal is made not at the time of receipt..but iam not able to understand detailly about what is the final order made by tribunal and what time it is taxable.
    THANK YOU
     
    swapna singh, Feb 21, 2015
    #3
  4. sarvagya jain

    sarvagya jain New Member

    that is in context to enhanced compensation........that is payable on tribunal's order.
     
    sarvagya jain, Feb 22, 2015
    #4
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