Compulsory aquizition
This query is : Resolved
19 April 2018
DEAR SIR,
ONE OF MY CLIENT, SOLD HIS AGRICULTURAL LAND TO HIGHWAY AUTHORITY OF INDIA AS PER COMPULSORY ACQUISITION LAND ACT, MORE THAN 40,LAKHS RUPEES TDS HAS BEEN DEDUCTED 4 LAKHS RUPESS. NOW MY QUESTION IS AS PER INCOME TAX RULES IS EXEMPTED FROM INCOME TAX. BUT WE CAN CLAIM 4 LAKHS RUPEES AS REFUND AMOUNT TO FILING INCOME TAX RETURNS ABOVE LARGE AMOUNT OF RECEIVED.
REGARDS
ONE OF MY CLIENT, SOLD HIS AGRICULTURAL LAND TO HIGHWAY AUTHORITY OF INDIA AS PER COMPULSORY ACQUISITION LAND ACT, MORE THAN 40,LAKHS RUPEES TDS HAS BEEN DEDUCTED 4 LAKHS RUPESS. NOW MY QUESTION IS AS PER INCOME TAX RULES IS EXEMPTED FROM INCOME TAX. BUT WE CAN CLAIM 4 LAKHS RUPEES AS REFUND AMOUNT TO FILING INCOME TAX RETURNS ABOVE LARGE AMOUNT OF RECEIVED.
REGARDS
19 April 2018
YES YOU CAN FILE RETURN AND take refund of TDs.
19 April 2018
THANK YOU, RUPESH JAIN SIR,
MY WORRY IS SUCH A LARGE AMOUNT MEANS MORE THAN 40 LAKHS RUPEES SIMPLY EXEMPTED FROM INCOME TAX EVEN TDS HAS BEEN DEDUCTED, AGAIN SUCH LARGE TDS AMOUNT CLAIM AS REFUND, I AM EITHER EXPECTING OR NOT WILL INCOME TAX AUTHORITIES RAISE A QUESTION ABOUT SUCH A LARGE AMOUNT THAT'S ALL MY WORRIES,
THANK YOU
REGARDS
MY WORRY IS SUCH A LARGE AMOUNT MEANS MORE THAN 40 LAKHS RUPEES SIMPLY EXEMPTED FROM INCOME TAX EVEN TDS HAS BEEN DEDUCTED, AGAIN SUCH LARGE TDS AMOUNT CLAIM AS REFUND, I AM EITHER EXPECTING OR NOT WILL INCOME TAX AUTHORITIES RAISE A QUESTION ABOUT SUCH A LARGE AMOUNT THAT'S ALL MY WORRIES,
THANK YOU
REGARDS
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