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Tds requirements on interest on compensation received for compulsory acquisition of land.
Along with section... whether tds os required to be deducted or not in above case...
Replies (6)
as per section 194LA tds shall be deducted on compulsory aquisition if paymemt is in excess of rs 1 lack @ 10% but no tds in case of agricultre land
If such acquisition is taxable then TDS is required to deduct otherwise not . Like in case of acquisition of agriculture land amount is not taxable so no requirement of deduction of TDS.
here plz note that tds will be decuted by the person or authority jo compulsory acquire kr ri h nd paying the consideration
i have query on interest received on compensation, not on compensation amount..
TDS on Interest in this case is deal by Section 194A
and there is no provision in Act which exempt TDS requirement in the aforesaid case
So in aforesaid mention case TDS is to be deducted as per 194A
and there is no provision in Act which exempt TDS requirement in the aforesaid case
So in aforesaid mention case TDS is to be deducted as per 194A
correct sec 194a shall be applicable however no tds deducted if interset is upto rs 5000
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