My client got compensation of RS 700000 from govt on his land (parental property) and Tax deducted u/s 194LA.
Which ITR should we used and should the income exempt or have tax liablity?
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Deduction under section 194la
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ITR 2 is to be filed. The income and tax aspect has to be calculated w r t cost details etc.
Compensation of what sort your client has received? Land Acquisition Compensation or Interest on delayed payment of land acquisition compensation or enhanced cost of land acquisition with interest?
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