Dear sir,
my uncle used to have agriculture land where owned by govt. but govt given rural agriculture land for utilizing it for agriculture purposes, but now govt. sold that property to a company where company in return credited an amount of 9lakh per hectare to my uncle. where he is not the owner of that land.
No TDS was deducted by company.
can u please help me in this regard about implication of income tax
Thanks & Regards
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Reg: Capita gain
Replies (3)
yr Q not clear please clarify ur Q
No tds appli.on Agriculture land as per s 194-LA.
No tds appli.on Agriculture land as per s 194-LA.
actually it is a rural govt agriculture land, where govt given to farmers for using it for agriculture purposes. but owner of the land is govt only. But now govt sold it to a company where govt received consideration from company. after that farmers demanded govt to help with some financial assistance. for that company offered 9lakh per hectare as relief.
good clarification and information
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