Our Land was compulsorily acquired by Western Railway and they deducted 10% TDS ? Why ?

POSTED BY sa ON April 2, 2014 10:37 pm ONE COMMENT

Our land in maharashtra acquired by western railway for DFCC compulsory acquisition and while paying they cut 10% TDS . Now  some CA says you have to pay capital gain what is the truth ?

One reply on this article “Our Land was compulsorily acquired by Western Railway and they deducted 10% TDS ? Why ?”

  1. ashalanshu says:

    Dear SA, as it was a monetary compensation from Govt. for land acquisition, TDS is to be applied. That’s answer for TDS part. As you sold your land, which was a capital asset, you need to pay LTCG tax on your land.

    Thanks

    Ashal

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