My father had received compensation from NHAI for compulsory takenover by the authority in the year 2008. Payment received after deducting the income tax of 10%. Father not received any kind of income except from agriculture and in lumpsum from letout property. Father has not been filed the Income tax, please reply to me whether he can get this amount as refund?
6 Replies
Ganeshbabu K
(Audit and Tax Advisory)
(48564 Points)
Replied 04 February 2013
how much compensation received
Ganeshbabu K
(Audit and Tax Advisory)
(48564 Points)
Replied 04 February 2013
yes
for this u have to go with capital gains tax
which will caluculated with ur purchase prise and year of the property ,
you cannot get your tds back,leave it
how ever if you file a return may be you only have to file tax on it
as u received10lakhs assuming u got some gain in transaction
Dheeraj
(Learner)
(1100 Points)
Replied 04 February 2013
When did your father received 1st payment as compensation?
and the land was rural agriculture or urban agriculture ?
after posting your reply her
message me your reply on my profile too
muhammedfaisalpv
(CA-FINAL)
(48 Points)
Replied 04 February 2013
Compensation received in 2008,its not an agricultural income.its a building plus land area
Dheeraj
(Learner)
(1100 Points)
Replied 04 February 2013
compensation recd in 2008
its 2013...
No Rebate at all...
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