Krishna (Manager - Genesis Tax Consultant) (531 Points)
24 May 2018Hi Sir,
I bought a land in 2009 for an amount of 3.8 Lakhs, govt aquired my land and paid last month 8.10 lakhs by deducting TDS 95K
Is there any opportunity to invest the amount in to another land and get the TDS deducted or refund amount from the govt? If so what should I do.
Nihar Ranjan Rout
(CA Final & CS Final)
(577 Points)
Replied 24 May 2018
You can avail any deduction under the 54 series that fits your asset and satisfy the conditions the stipulated therein to claim the deduction. And after that while filing show the deduction that you exercised and also claim the TDS credit.
Krishna
(Manager - Genesis Tax Consultant)
(531 Points)
Replied 25 May 2018
Hi Sir,
Thank you so much for the information!!!
CAclubindia
