20 February 2022
Mr X held agricultural land (anscestral) which was compulsorly acquired by NHAI for highway construction. X received compensation less TDS u/s 194LA. X doesn't have any other taxable income.
Q: Where to report this income in income tax form so as to claim exemption
20 February 2022
Under Section 10(37) of the Income Tax Act, Capital Gains on compensation received on compulsory acquisition of urban agricultural land is exempt from tax.
Show it in exempt income schedule with reference to section 10(37) claim refund of TDS.
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