TAXABILITY ON COMPENSATION..


(Querist)
24 October 2019
WHETHER COMPENSATION RECEIVED FROM CENTRAL GOVERNMENT FOR COMPULSORY ACQUISITON OF NON AGRICULTURE LAND IS TAXABLE OR NOT UNDER THE HEAD OF CAPITAL GAIN?


CA Dileep Surya Kumar (Expert)
24 October 2019
Not taxable as per RFCTLARR Act.

Rahul (Querist)
24 October 2019
THE GOVERMENT HAS CUT TDS ON IT UNDER SECTION 194LA.
IF IT IS NOT TAXABLE THAN WHY SHOULD GOVERNMENT HAS CUT TDS ON IT?

CA Dileep Surya Kumar (Expert)
24 October 2019
There are cases where Income tax exemption under RFCTLARR Act will not be available refer section 46 of the RFCTLARR Act . In such cases TDS 194LA shall be applicable



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