30 March 2017
Rs.6 lakh as tds has been deducted @10% on interest on enhanced compensation by govt.
Can I get refund of this amount ?
Under which Head the amount received is to be shown ??
30 March 2017
Interest is taxable. To be offered under the head 'income from other sources'. 50% can be claimed as deduction u/s 57(iv) of the Income tax Act,1961. File the income tax return and seek refund.
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