06 November 2011
Plsssss.... help me. The land of a farmer aquired by govt.for road construction and he has recieved Rs. 1000000/- and tax has been deducted u/s 194LA of Rs. 100000/-. Under which sec. he will get full refund. He has no other income. Land is agriculture land,Land is urban
1. Whether the land is an agriculture land. 2. It is in rural area or in urban area. 3. Compute capital Gains by ascertaining indexed cost of acquisition.