request you expert sir's, to ans my query,,,,,,,,
the case is..
1. Rural Agriculture land transfer to government,
2. compulsory acquisition , compensation received,
3, TDS charged on it @ 10%,
4. Now i want to file ITR for refund .
5. The Owner of land is farmer and no other incomes
6. it is Family Agri. Land.
pls suggest right way to file ITR for TDS refund.
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TDS ON Transfer of Agriculture Land
Replies (7)
Rural agricultural land is exempt from any capital gain. So you will have to file return for the corresponding year, and claim refund.
If the farmer/HUF as per the TDS deduction data doesn't have any other taxable income, ITR 1 would suffice.
May take help of any local Tax Return Preparer (TRP).
Thank you sir, but I am thinking about ITR 2???
No problem, but the capital gain is exempted.
yes But the problem is that , I do not have their Purchase deed. for the cost of the land
You can take circle rate value for the corresponding year. Estimated figure will also work, as the gain, whatever it be, is exempted; so department will not object to it.
ok thank you sir
Most welcome & Good luck
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