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Tds on land acqusition

Sandeep (B.Com) (23 Points)

28 May 2018  

Can tds be deducted on compulsaory acqisition?

 

if yes, then under which act as per income tax act or land acqusitioin act. 

plz ans with references to particular sections


 2 Replies

pratik (CA- Accounts executive) (267 Points)
Replied 28 May 2018

194LA
1 Like

CA Sunil Kumar (Chartered Accountant) (4499 Points)
Replied 28 May 2018

On payment of compensation or enhanced compensation or consideration for compulsory acquisition of immovable property(other than agricultural land) to a resident, the payer is required to deduct tax at source @ 10% where the compensation or consideration exceeds ₹ 2 lakh, w.e.f A.Y 2013-14

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