Tds on compensation for acquired land
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 December 2014
as per the punjab-haryana high court; ajay kumar vs state of haryana cr no.3236 of 2014,compensation for acquired land would not suffer tds. so whether intt on enhanced compensation is taxable or not ?
02 December 2014
yes tds applicable but can get deuction u/s 57.
02 December 2014
Interest on enhanced compensation is taxable under section 56(2)(viii) of the Income tax Act,1961 subject to a deduction as mentioned in section 57(iv) of the said act.
Rupesh Jain
(Expert)
04 December 2014
YES INTT WILL BE TAXABLE BUT YOU CAN DEDCUT THTE 50% INTT AMOUNT U./S 57
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