I recieved compensetation in Oct 2011 on the Agriculture land quired in UKP project in Bagalkot
The land was in name of my Dad and uncles, and I have recieved my share of the compensation (after my father expired ) and a TDS amount of Rs 32000 has bend deducted by Land aquisitation officer in Bagalkot at the time of payment in oct 2011
Please advise if i can file for return of TDS amount ?
04 August 2012
Sales proceeds from sale of agriculture land in rural area is exempted from tax.
So kindle check whether UKP project in Bagalkot is situalted in following limits
(a) in any area which is comprised within the jurisdiction of a municipality (whether known as a municipality, municipal corporation, notified area committee, town area committee, town committee, or by any other name) or a cantonment board and which has a population of not less than ten thousand according to the last preceding census of which the relevant figures have been published before the first day of the previous year ; or (b) in any area within such distance, not being more than eight kilometres, from the local limits of any municipality or cantonment board referred to in item (a), as the Central Government may, having regard to the extent of, and scope for, urbanisation of that area and other relevant considerations, specify in this behalf by notification in the Official Gazette;]
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