Building and land compensation
This query is : Resolved
Quick Summary
Tejeshwar Singh
(Querist)
24 July 2023
As per Delhi-Amritsar-katra expressway i got a compensation for land Acquisition and building demolishing as i know that land compensation is tax free but i want to know about building compensation. As my TDS is deducted for building amount received.
CA R SEETHARAMAN
(Expert)
25 July 2023
Building compensation also exempt.
Tejeshwar Singh
(Querist)
25 July 2023
I am J&K resident then also building compensation exempt.
CA R SEETHARAMAN
(Expert)
25 July 2023
Yes, it's exempt all over India.
Tejeshwar Singh
(Querist)
25 July 2023
Is tds will refund to me?
Tejeshwar Singh
(Querist)
25 July 2023
And under which section i will get this exemption
CA R SEETHARAMAN
(Expert)
26 July 2023
Section 96 of the RFCTLARR Act, no tax is leviable on compensation received by the land owner under this Act including building.
Tejeshwar Singh
(Querist)
26 July 2023
RFCTLARR Act Provisions Not Applicable To Acquistions Under J&K State Land Acquisition Act 1990 : Supreme Court
https://www.livelaw.in/top-stories/supreme-court-rfctlarr-act-jk-state-land-acquisition-act-bharat-petroleum-corporation-ltd-vs-nisar-ahmed-ganai-211595
https://www.livelaw.in/top-stories/supreme-court-rfctlarr-act-jk-state-land-acquisition-act-bharat-petroleum-corporation-ltd-vs-nisar-ahmed-ganai-211595
CA R SEETHARAMAN
(Expert)
27 July 2023
Now J and K is merged with India check it's applicable.
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