Hi Sir,
I bought a land in 2009 for an amount of 3.8 Lakhs, govt aquired my land and paid last month 8.10 lakhs by deducting TDS 95K
Is there any opportunity to invest the amount in to another land and get the TDS deducted or refund amount from the govt? If so what should I do.
You can avail any deduction under the 54 series that fits your asset and satisfy the conditions the stipulated therein to claim the deduction. And after that while filing show the deduction that you exercised and also claim the TDS credit.
Hi Sir,
Thank you so much for the information!!!
CAclubindia
