I Have received gross enhanced compensation of Rs.3200000 on which TDS made by deductor Rs.320000/- on acquisition of capital asset U/s 194L. how can i calculate tax liability for same.
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Tax liability on receipt of enhanced compensation u/s 194l
Replies (1)
Hi,
First of all no TDS should be deducted under section 194L on or after the 1st day of june,2000.
Enhanced compensation be chargeable u/s 45(5), as income taxable under capital gains.
For any further query PM or mail us.
AJH & CO.
info @ ajhco.in
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