Sir,
Assessess jewellery business in owns commercial property property purchase value rs:15 lacs year 2018.but recently government assessess commercial property occupied after demolished for the purpose road extension purpose. amount received from government rs:25 lacs f.y.23-24.
Question:
Assessess capital gain tax applicable for f.y.23-24.
Since the commercial property was acquired in 2018 and compensation of ₹25 lakh was received from the government due to compulsory acquisition for road expansion in FY 2023-24, capital gains tax implications may arise depending on the nature of the asset, compensation details, and applicable exemptions under tax laws. It is advisable to consult a tax professional for accurate computation. I came across similar discussions while browsing rbtv77 and found that compensation-related tax treatment often depends on specific case facts.
Wow, that tax story on the jewellery business after the property was demolished is pretty confusing, but the payout sounds interesting. I’ll definitely try the meccha chameleon demo, it looks like a fun game!
The compensation of ₹25 lakh received for compulsory acquisition of the commercial property may be taxable as capital gains in FY 2023–24. The capital gain should generally be calculated by deducting the indexed cost of acquisition, where applicable, from the compensation received Geometry Dash Lite. However, the tax treatment depends on the acquisition date, applicable provisions of the Income-tax Act, and whether any exemption applies.
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