Whether acquisition of land under an agreement by Karnataka Industrial Area Development Board (a state Government Undertaking) with landowners under the Karnataka Industrial Areas Development Act, 1966 (‘KIA Act’) would be deemed as compulsory acquisition within the meaning of Section 194LA?” Held Section 194LA applies only when there is a compulsory acquisition under law. Under… Read More »
Where land owners surrendered their land to assessee municipal corporation, for public purpose under scheme of development right certificates, permitting development rights to owners in form of additional floor area which was equal to one and half times of area of land surrendered, and there was no quantification of said certificates, therefore, section 194LA would… Read More »
No tds on sale of agricultural land Question Whether the assessee is required to inspect the fields and find out whether the lands are actually cultivated or not before deciding it a agriculture land and hence Not liable for TDS ? Answer : No, The language of section 194LA being plain and simple it provides no physical… Read More »