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Interest on enhanced compensation on agriculture land

This query is : Resolved 

30 March 2017 My agricultural land is acquired by govt., and tds , Rs.6 lakh, has been deducted @10% on the interest on enhanced compensation (Sec.194A) . Can I get refund of this amount ? Under which Head is it to be shown?

30 March 2017 Interest on enhanced compensation is taxable under the head INCOME FROM OTHER SOURCES. Flat deduction @ 50% is available on rs 6 lake , therefore only rs 3 lakh is taxable. File your return and get refund.

30 March 2017 sir , tds=6 lakhs,then how much can I get refund??

30 March 2017 It depends on your income. If there is no taxable income then entire amount will be refunded along with interest.

Else if there is taxable income then accordingly tax will be adjusted and the balance amount will be refunded with interest.


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