No need to pay income tax if your land is acquired by government giving payout under RFCTLARR Act; Budget 2026 proposal

Budget 2026 has introduced a full income tax exemption for compensation received from the government for land acquired under the RFCTLARR Act, effective April 1, 2026. This move aims to align tax laws with the RFCTLARR Act, removing previous interpretational ambiguities regarding tax-free payouts for compulsory land acquisitions. Read more.

from Tax-Wealth-Economic Times https://ift.tt/7jw6R9l