IS TDS UNDER SECTION 194LA TAXFREE AND HOW TO GET REFUND
CASE IS AS FOLLOWS:
1. COMPENSATION OF COMPULSORY AQUISITION OF WELL AND BOARING IN AGRICULTURE LAND.
2.AQUIRED BY RIICO(GOVT.)
TDS BY GOVT. ON 720692 AT 10.3% AMOUNTED TDS 74231.
I FILE RETURN AS EXEMPT INCOME AND CLAIM FOR TAX REFUND ON ENTIRE AMOUNT.
IS IT NECESSARY TO SHOW IN ITR AS EXEMPT INCOME OR NIL TAXABLE INCOME.
show it as exempt income in the ITR
for more queries : https://knowyourtaxation.blogspot.in/
TOTAL CHEQUE AMOUNT 646461 PAID BY RIICO(GOVT) TO FARMER.
MY QUESTION IS..
1. IS IT NECESSARY TO MENTION 646461 OR 720692 IN ITR AS EXEMPT INCOME
2. WHILE FILING ITR WHICH SECTION I MENTION TO SHOW AS EXEMPT INCOME.
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