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Compensation for house acquired

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vibha trivedi

16 Points Posted on 23 July 2023

compensation for house demolition paid by ADM land acquisition but in passbook entry from NHAI- amount 20,00,000/- but no tds deducted on this amount.

compensation for land on which the above house was situated paid separately amount 12,00,000/- by ADM land acquisition but in passbook entry by NHAI, TDS deducted under 194LA.

above is for one assessee for f. y. 22-23 , 54F available upto 15 lakh.

what will be the tax treatment for above compensation received for demoltion of house?

Replies (2)

Quick Summary

This discussion addresses the tax treatment of compensation received for a demolished house and the land it was on, both paid by ADM land acquisition via NHAI. The key issue is the varying TDS deduction on these payments and how Section 54F, which allows up to £15 lakh for property reinvestment, applies. The user seeks clarification on the taxability of the house demolition compensation, especially since no TDS was deducted on that specific amount.