Enhanced compensation on acquisition of land
This query is : Resolved
20 September 2012
dear sir one of my relative has received Rs. 18 lacs as enhanced compensation on acquisition of agriculture land by HUDA ( govt.organisation). TDS is deducted @ 10%. now i want to know whether the so deducted TDS can be refunded or not and whether enhanced compensation is different from compensation on acquisition of agriculture land.
20 September 2012
Credit for TDS deducted is to be claimed.
If it is purely amount of enhanced value of agri. land not a capital asset will not attract tax. If it includes amount of interest on delayed payment that portion will be treated as income.
If it is purely amount of enhanced value of agri. land not a capital asset will not attract tax. If it includes amount of interest on delayed payment that portion will be treated as income.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Tax on Deemed Capital Gain
- Scrutiny and reopening of past returns
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Type of Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- ASMT-10 received from A O
- Rental income of jointly held property
- Accounting with Claude
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
