During the course of Survey u/s 133A(2A) of I.T. Act 1961 on the office premises of a Developer it is found from the trail balance that the developer debited an amount of 12 crore as tenant compensation but did not deducted TDS u/s 194LA. The developer stated that the said amount given to the family members of one individual as compensation to leave the right on land and vacant the land for developing, so TDS does not lies in this case.
Should the TDS not deducted in this case u/s 194LA of I T Act 1961? Please elaborate with legal support. If not also, please describe in details.
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Tds u/s 194LA
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