UPA signs off on new land acquisition Bill
New Delhi: The Union cabinet on Monday cleared the politically sensitive and critical proposed land acquisition Bill, a little over a month after it was unveiled to the public by the ministry of rural development on 29 July, after relaxing key provisions relating to compensation and allowing conditional acquisition of multi-crop land.
The National Land Acquisition and Rehabilitation & Resettlement Bill, 2011, is expected to be introduced in Parliament on Wednesday, a day before the ongoing monsoon session is scheduled to end.
Related posts:
- Govt. releases draft of National Land Acquisition and Rehabilitation and Resettlement Bill, 2011
- Comprehensive land acquisition bill soon: Govt
- Centre plans to introduce bill on Land Acquisition
- IT department decided to collect tax on compensation paid by Essar Steel for land acquisition
- Availability of exemption u/s 54F on acquisition of land appurtenant to the building or on the investment on land on which building is being constructed
No Tax on Land Compensation ?
In Economic Times [ 17 Sept 2011 ], Devika Banerji reports :
“ Compensation awarded under the Land Acquisition Act for both, urban and rural agricultural land is exempt from income tax “
That must be sweet music to our 242 Members of Parliament ( MP ) , who have declared themselves as “ Agriculturist “ by profession.
Now everyone knows that in our country, only an “ Agriculturist “ can buy agricultural land
But, he cannot sell it to a person who is not a farmer
But he can sell it to Government under the Land Acquisition Act
And at market price, too
In the coming weeks and months, do not be surprised if you don’t find your MP in parliament
He is busy buying some agricultural land – in this land of perennial scams !
With regards
Hemen Parekh
Jobs for All = Peace on Earth