Payment of compensation on acquisition of certain immovable property

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..... hanced consideration on account of compulsory acquisition, under any law for the time being in force, of any immovable property (other than agricultur al land), shall, at the time of payment of such sum in cash or by issue of a cheque or draft or by any other mode, whichever is earlier, deduct an amount equal to ten per cent of such sum as income-tax thereon: Provided that no deduction shall .....

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..... ( ii ) immovable property means any land (other than agri cultural land) or any building or part of a building.] --------------------- Notes :- 1. Inserted by the Finance (No. 2) Act, 2004, w.e.f. 1-10-2004. 2. Substituted vide Finance Act, 2012, w.e.f. 01-07-2012, before it was read as:- one hundred thousand rupees 3. Substituted vide THE FINANCE ACT, .....

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