Hi
Question regarding the compulsory acquisition of land and building for laying down roads by Andhrapradesh State Government.
One of my client has running tailor business in his house.
In recent road development programme by Government of AP State, he has lost the land and house and he claimed for the compensation of 7 Lac's by taking the esimation value from the Chartered Engineer. But Government has granted him only4lac's from this TDS of40000 + Education cess has been deducted and remmited the net amount . Previously he is not an Income Tax Assessee .
For Claiming the refund now he has taken the PAN card.
Please sugesst ........ what to Do ?
Assessee has constructed the House from his own sources in year 1991-92
And now with the compensation received he has constrcted new house in the remaining vacant land.
Year of Accusition = 2009
Year of construction of Old house = 1991-92 with estimated cost of construction5,50,000.
New house constructed on year = 2010-2011
TDS Form ( Form 16 A ) for Assessment year 2010 - 11 This form 16A has been dated as 7.7.2011
Date on which tax deposited 2.2.2011
Tax deducted is46211, and tax deposited in respect of deductee is3900387.
In Form 16A both names of the Deductor and Deductee are same ie., Revenue Divisional Officer,
It has no TDS Certificate number ( Six digit number ) but it has been signed by the concerned RDO.
And Form 26AS Tax credit statement is displaying as " No Transation Present "
Question : Whether the form 16A issued is not the correct one
or it is correct but the details in it or wrong ?
Or the client has been cheated by issuing duplicate Form 16A ( In form16A BSR code of Bank, Date o deposit
and challan serial number has been mentioned )
Please please please Suggest what to do ?
CAclubindia
