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Land compensation

mdhussain 2603 (113 Points)

05 October 2020

I get money from govt for land compensation...and I am a labour.
Now to claim refund which return i file??

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5 Replies

ayusmita (Tax consultant) (5885 Points)
Replied 05 October 2020

ITR 4 BUT if you get salary for your labour work then ITR 1

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 05 October 2020

Is your land Compulsory acquired by Government ?
It's agriculture land or non agriculture land ?

mdhussain 2603 (113 Points)
Replied 05 October 2020

Agriculture land
Yes acquire by govt

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 05 October 2020

If this land is in rural area than there is no Capital Gain, totally exempt.
If this land in urban area than there is capital gain but it's Exempt from tax u/s 10 (37) of income tax Act, 1961.

If You are a farmer i.e you have a income from Agriculture than required to file form ITR 2 and in that form you can claim refund of TDS deducted by Government.

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