Enhance compentation on compulsary acquation of agriculture land tds deducted 10%

TDS 285 views 1 replies

I HV RECEIVED ENHANCE COMPENTATION ON COMPULSARY ACQUATION OF AGRICULTURE LAND BY GOVT AS PER LAND ACQUATION ACT.

TDS HAS BEEN DEDUCTED 10% ON IT. IT CONTAIN INREREST ALSO U/S 28 OF LAND ACQUATION. WILL I GET COMPLETE REFUND OF TDS OR NOT AS IT IS INTEREST U/S 28 NOT 34 BEC INTERED U/S 34 TAXABLE 50% IN INCOME FROM OTHER SOURCES. WHERE AS ENHANCE COMPENTATION WHOLE AMOUNT IS EXEMPT U/S 10(37). WHERE I WILL SHOW THIS AMOUNT OF COMPENSATION IN MY RETURE AND WHETHER IT IS EXEMPT OR NOT PLZ HELP

Replies (1)

Yes, interest on enhanced compensation under section 28 of Land Acquisition Act, 1894, being an integral part of consideration is exempt from Capital Gains Tax under section 10(37).

 


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