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compansation on compulsary acquistion of land

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 February 2011 A person received interest along with compansation relating to compulsary acquisition of agriculture land by govt. in F.Y. 2004-05. Whether the person can revise his income tax return wef F.Y. 2004-05 or from which year. Further how TDS can be claimed in such case as the TDS is deducted in current year
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
10 February 2011 In case of compensation for compulsory acuisiotion , Tax is paid on cash basis. You have to file the return in the year in which amount was received.
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Guest

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Guest (Expert)
10 February 2011 Morever, return for A.Y. 2004-05 can not be revised now.
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