Ankit Gupta (Learner) 26 December 2013
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This case is about My client, Government Aquired Their agricultural Land and in return compensated with the amount. the same amount is reflected in Form 16A(which is given by them in manual format). they have deducted TDS u/s 194LA. (Which is not Reflecting in 26AS of my client_# becoz of Manual 16A Form)
Now my question is whether this compensation recieved by compulsory aquisition of land by govt. is eligible for exemption or partically taxable or something else. Please reply to this querry as early as possible.
Which Capital Gain Section would be applicable and how will be the treatment of the same.
Thanks in advance
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