16 March 2019
My one of the client compulsory acquisition of rural agriculture land and govt deducted the TDS in Financial Year 2017-18 and he didn't file the return and now he want to file a returns get TDS refund is it possible and can i show in agriculture income please kindly suggest me
17 March 2019
+ Income tax return has to be filed since tax is deducted and can be filed now.
+ Not an agrl income per definition. If at all you show it as agrl income, return of income and form 26AS will not match and dept may rise query.
+ So offer under 'capital gains' (legally wrong) by showing the profit as zero, by deducting the profit with a description 'claimed as exempted since the land sold out is rural agricultural land'
CAclubindia
