Taxability of interest on compulsary acquisation
This query is : Resolved
Bindu Sharma
(Querist)
25 July 2014
Respected sir/Expert
My agriculture land was compulsary acquired by Govt in 2009. Later in 2014 I recived Enhanced compansation with interest. TDS was dedcuted on interest @ 10%.
My query is whether total interest will be added in my income or I will get 50% rebate on it.IF yee,Under which section.
My agriculture land was compulsary acquired by Govt in 2009. Later in 2014 I recived Enhanced compansation with interest. TDS was dedcuted on interest @ 10%.
My query is whether total interest will be added in my income or I will get 50% rebate on it.IF yee,Under which section.
25 July 2014
50% deduction is allowed as per sec 57............
25 July 2014
50% deduction is allowed as per sec 57............
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