April 2, 2014 10:37 pm
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 ?
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.
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