TDS deducted on sale of land
This query is : Resolved
07 July 2008
A company took over (purchased)vacant land for airport expansion during the year 2007-08 on behalf of the goverment. they have paid Rs.2.5 lacs after deduction of TDS. Assessee has purchased the land during 80's for Rs.10,000/-. he does not have any taxble income also he is a disabled person nat havin PAN. My question is:
1) Is it correct to deduct the TDS by the Co ?
2) Is Capital gains is Taxble for him?
3) how much he has to pay the Tax?
1) Is it correct to deduct the TDS by the Co ?
2) Is Capital gains is Taxble for him?
3) how much he has to pay the Tax?
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