Compulsory Acquisition by NHAI of Agriculture land
This query is : Resolved
03 October 2020
Compulsory Acquisition by NHAI of Agriculture land inducing Well ,Pump, Borwel, Pipes, farmhouse/House Constructed in Agriculture Land TDS Deducted sec 194LA whether Taxable or not If its Exempted how to Declare In ITR (TDS 10%)
03 October 2020
Since it is agriculture land its not a capital assets. hence it is not reported at all. However, make sure with your tax consultant that it is truly agriculture land as per income tax act.
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