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.
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