Matter relating defination of agri. land sec 2 (14)

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shrenik bardiya (Querist)
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21 November 2013 Sir,
Assessee wants to purchase Agri. Land, situated in a village , of Rs. 60,00,000/- situated between 2 to 6 kms from the local limit of Municipal Council.
Population of the village is Less than 1 Lakh.
So please let me know whether TDS is to be deducted or not..?

& what if the Population of the village is more than 1 lakh and less than 10lakh.?

Thanx in Advance.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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22 November 2013 1. where the population of the municipality is less than 1 lakh, you might get taxed.

2. In second case where population is more than 1 lakh but less than 10 lakhs, no tax or TDS shall apply.

Refer:

196 ITR 269 (SC)

http://indiankanoon.org/doc/705973/

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