My client got compensation of RS 700000 from govt on his land (parental property) and Tax deducted u/s 194LA.
Which ITR should we used and should the income exempt or have tax liablity?
vivek patwal (Accountant) (24 Points)
10 August 2015My client got compensation of RS 700000 from govt on his land (parental property) and Tax deducted u/s 194LA.
Which ITR should we used and should the income exempt or have tax liablity?
Rajagopalakrishnan R
(PARTNER)
(1417 Points)
Replied 10 August 2015
ITR 2 is to be filed. The income and tax aspect has to be calculated w r t cost details etc.
sanjeev kumar goel
(Advocate)
(260 Points)
Replied 16 August 2015
Compensation of what sort your client has received? Land Acquisition Compensation or Interest on delayed payment of land acquisition compensation or enhanced cost of land acquisition with interest?
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