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Compensation

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 October 2014 If a person is receiveing 40 lacs as compensation from acquisiion of urban non agricultural land is it taxable? If so, at whatrate
and How to apply under 197 for lower rate in case of individual?

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Nikhil Kaushik

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Nikhil Kaushik (Expert)
21 October 2014 TDS shall apply under 194LA.

For lower deduction certificate, File Form 13 to jurisdictional TDS AO.

overall tax will depend on capital gains computation.
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