| Question And Answer | |
|---|---|
| Subject: | TDS ON LIMITED COMPANY IN CASE OF AGRICULTURE LAND ACQUIRED BY NHAI |
| Category: | Income-Tax |
| Querist: | sameer mittal |
| Answered by: | Advocate Shashi Ashok Bekal |
| Tags: | Agricultural Income, Agricultural land, compensation, TDS |
| Date: | February 10, 2022 |
Our is a limited company and has agriculture land in Amritsar, the same has been acquired by NHAI in 2020-2021, will land acquisition officer levy tds on our company before making payments in case of limited company or no tds will be applicable?
Section 194LA of the Income-tax Act, 1961 pertains to deduction at source on payment of compensation on acquisition of certain immovable property. However, it is clarified that the same will not be applicable to agricultural land. Therefore, no TDS will be deducted on payments to the taxpayer.
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