Saumit Patil (Student CA IPC / IPCC) (87 Points)
02 September 2014I Have received gross enhanced compensation of Rs.3200000 on which TDS made by deductor Rs.320000/- on acquisition of capital asset U/s 194L. how can i calculate tax liability for same.
Anubhav
(Chartered Accountant)
(429 Points)
Replied 02 September 2014
Hi,
First of all no TDS should be deducted under section 194L on or after the 1st day of june,2000.
Enhanced compensation be chargeable u/s 45(5), as income taxable under capital gains.
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