TDS @10% has been deducted under sec 194 LA on compensation received on compulsory acquisition of village land by government. Need to know which ITR is to be filed for the same for AY 2013-14 and under which head of income? Can refund be claimed by a Sr. citizen in case the total taxable income is below the the taxable limit?
18 May 2013
FILE ITR-2 FOR OTHER SOURCE INCOME FOR COMPENSATION RECEIVED AGAINST COMPOLSURY LAND AQUISITION. IF YOU HAVE ALSO RECECIVED INTERES ON SUCH COMPENSATION THEN CLAIM 50% INTEREST EXAMPTION ON THAT INTEREST RECIVED.
04 June 2013
Will this form part of capital gains as someone had suggested that it will be capital gains and refund can be claimed if income is within the taxable limit?
CAclubindia
