Compulsory aquisition of land residential land in rural area
This query is : Open
27 May 2017
land aquired by govt , in compulsory acquition scheme in rural area, and TDS was deducted us194LA by govt dept.please advice me how to show that compensation received while filling return in ITR 2.for claiming refund of tax deducted. said land acquire was occupy for houses( residential purpose ) by farmers.In which schedule I will show the said compensation received in ITR 2
I thinking to show this income in schedule of EXEMPT INCOME(EI) OF ITR 2, UNDER GROSS AGRICULTURAL RECEIPT, AND CLAIMING REFUND, IS IT AM RIGHT ???
I thinking to show this income in schedule of EXEMPT INCOME(EI) OF ITR 2, UNDER GROSS AGRICULTURAL RECEIPT, AND CLAIMING REFUND, IS IT AM RIGHT ???
27 May 2017
Rural Residential Land is Taxable On Compulsory Acquisition, Calculate Capital Gains Tax accordingly and claim Refund.
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