Tds u/s 194l
This query is : Resolved
CA Priyanka A Mundada
(Querist)
10 March 2016
whether tds is deductible u/s 194L while making payment for compulsory land acquisition...
because As per Land Acquisition Act no Income Tax or stamp duty shall be levied
because As per Land Acquisition Act no Income Tax or stamp duty shall be levied
10 March 2016
Both act have different objects so as per income tax act tds deductible.
CA Priyanka A Mundada
(Querist)
10 March 2016
but as per IT act also it is given that in case of capital assets tds is not deductible after 01.06.2000 while in 194LA in case of certain immovable properties except agri land tds @ 10% is deductible.....what is the exact difference in 194L & 194LA
10 March 2016
So in your case if its non agricultural land then sec 194LA is applicable if condition therein are met and tds becomes deductible.
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