Land Settlement Money From Government. Do I Pay Taxes Or Is TDS

Dear Client you should contact local Lawyer which practice saletax and incometax For further assistance please contact me Thank you

Hello Sir The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013’, shortly known as RFCTLARR Act. Section 96 of the RFCTLARR Act states that ‘No Income Tax’ or ‘Stamp Duty’ shall be levied on any award or agreement made under RFCTLARR Act when lands are being acquired by appropriate government (including government companies and trusts/AOPs/societies controlled by government), except under Section 46, wherein Section 46 deals with land purchase by non-government/private parties through RFCTLARR Act. Enhanced compensation as awarded by courts is taxable under the head ‘Capital Gains’. Interest on compensation as awarded by the courts will be taxable in your hands in the year of receipt of such enhanced compensation under the head ‘Income from Other Sources’. Thanks Please rate if you find this advice helpful

Dear Sir, It is capital gain and you have to pay tax as per Tax Laws. Please give me rank after viewing my details. Please call me for further assistance.

no get the certificate from government office about the money and source.