Section 194LA - Payment of compensation on compulsory acquisition of any immovable property (other than agricultural land)

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..... responsible for paying to a resident any sum, being in the nature of (i) compensation or the enhanced compen sation (ii) the consideration or the enhanced 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 deduct income-tax thereon. Immovable property means any land (other than agri cultura .....

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..... ion and Resettlement Act, 2013. however this exemption is not available in case when land is purchased through private negotiations by a person other than a specified person under section 46(1) of said act. Note: No TDS where amount does not exceed 2,50,000 during a Financial year. Question of deducting tax at source arises at the time of making payment and it has nothing to do with date of award .....

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