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Compulsory acquisition of land in urban area

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06 June 2023 SIR, My client land situated in urban area, had compulsory acquired by special land acquisition office and deduct tds u/s 194LA. Sir I want to know that above property exempt from tax ? if Yes
how to show in itr for refund. please suggest
with regards

06 June 2023 Compensation received for compulsory acquisition of land under the RFCTLARR Act (except those made under section 46 of RFCTLARR Act), is exempted from the levy of income-tax.

06 June 2023 Thanx for reply sir but where to show in itr 2 .



06 June 2023 Show it in exemption schedule.
In the TDS schedule also showi the income under exempt income.

16 June 2023 Thanx sir
How to describe for TDS refund in the description section of the income except in section 10. Kindly guide. I would be grateful for your advice

16 June 2023 In TDS schedule, show the income head as exempt income.
In the exemption schedule show the income as Compensation received for compulsory acquisition of land under the RFCTLARR Act


16 June 2023 THANK YOU VERY MUCH SIR FOR YOUR ADVICE

16 June 2023 You are welcome..
....


21 July 2023 SIR IF THE COMPULSORY ACQUISITION FOR THE HOUSE BUILT ON THE COMPULSORY ACQUIRED LAND BY THE GOVERNMENT IS RECEIVED, WILL THAT ALSO BE EXEMPT BECAUSE TDS HAS BEEN DEDUCTED UNDER SECTION 194LA ON THE AMOUNT GIVEN BY THE SPECIAL LAND ACQUISITION OFFICE ON THE STRUCTURE ONLY. PLEASE GUIDE.

THANX

21 July 2023 Building compensation also exempt.

21 July 2023 THANK YOU VERY MUCH SIR FOR YOUR VALUABLE FACTS .

21 July 2023 You are welcome...
...


23 July 2023 DEAR SIR
DUE TO WRONG FILLING OF TDS RETURN BY TDS DEDUTOR OF MY CLIENT, DOUBLE AMOUNT SHOWING IS BEING DONE IN 26AS AND AIS. IT IS NOT UPDATED ON THE PORTAL AFTER REPEATING INFORMING HIM. DUE DATE OF FILLING ITR IS ALSO COMING CLOSER. WHAT DO YOU THINK SHOULD BE DONE.

23 July 2023 File ITR for the correct amount.
Any query can be replied.

12 October 2023 Hi Sir
How ar you

Dear sir please clear up my confusion on this point
The husband is a salaried employee and the wife has a cosmetic business. Husband does not file income tax return but his wife files income tax return . Now the question is that if the husband pays children's fees, mediclaim policy and other 80C deductions from himself, then should the wife claim all these deduction in her personal income tax return.

regards


12 October 2023 No only the person who is paying can claim deduction.

15 February 2024 Dear Sir
how are you.
My client takes a hotel contract for a year and earns profit by renting out its rooms. Sir, I want to know how its registration will be done in Goods and Services Tax,
Will reverse mechanism charge be levied on the contract amount paid by him to the hotel owner?
Please guide.

Thanx with regards

15 February 2024 In case of annual rental receipt exceed 20 lacs GST registration is required.
RCM not applicable.

15 February 2024 Thanx for reply sir
Will a rent agreement with the hotel owner be required for GST registration?


15 February 2024 No, only hotel owner is required for registration.



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