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Refund of TDS under 194LA

John Joel (Service Consultant) (25 Points)

16 July 2010

A house wife received Rs 540000/- as compensation for land acquired compulsorily. TDS @ 10% is deducted by the payer. She has no income of her own. Which is the ITR form she has to use. In the ITR form does this amount figure as income

John

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8 Replies

Ajay Garg (CA FINAL) (101 Points)
Replied 16 July 2010

I think ITR 2 will be filed because there is no income from business & profession.

1 Like

Pawan Sharma (ACCOUNT MANAGER) (100 Points)
Replied 17 July 2010

Dear Mr. John,

from my point of view u have to fill ITR-4, u also consider, under which section tds deducted by the payer

deepak (chartered accountant) (31 Points)
Replied 17 July 2010

The above income will be taxed under capital gains section 45(5) and capital gain will be calculated after deducting indexed cost of acquisition ITR 2 will be applicable for the same

1 Like

John Joel (Service Consultant) (25 Points)
Replied 19 July 2010

Sirs,

May I elaborate my original question a bit. The lady has no income. No job. No profession. A portion of her agricultural land was acquired by the Governemnt for the NTPC. It is the value of the land so acquired by the govt. Thre value received is 540000/- Rs 54000/ i.e 105 is collected as TDS under 194 LA. Whether she will get a refund of the same.Form No 30 requires that the request should be accompanied by the return of income. Now which form she has to use?. Under which head the same is to be included. How the tax calculated and refund claimed.

Kindly advice

John Joel