Home |Tax returns filing | I will be receiving 42 lakhs from the govt as part of land acquisition for the enlargement of highway road in Kannur. I am an NRI and will be receiving the amount in my NRO A/C by tomorrow or at most day after in full. Kindly tell me if I have to pay income tax on the amount that I will receive from the Govt. from the land acquisition.

I will be receiving 42 lakhs from the govt as part of land acquisition for the enlargement of highway road in Kannur. I am an NRI and will be receiving the amount in my NRO A/C by tomorrow or at most day after in full. Kindly tell me if I have to pay income tax on the amount that I will receive from the Govt. from the land acquisition.

Answer Notify Me - 1 Notifying - 2



Subin VR, Chartered Accountant,FCA, DISA (ICAI) verified
Answered on May 11,2021

Govt would already deduct TDS on transfer to your account. You can file IT return and adjust the tax liability towards TDS.

How would you rate the answer?


Excellent Good Neutral Poor Bad

Thank you for your response..

Chat with Subin VR
Clap Clap 0
Share Share Answer Share Share
Views 18 views
tesz.in
Hey , can you help?
Answer this question
Guide

Kerala Voter List 2024 - Search By Name, Download

Empowering citizens to exercise their democratic rights is crucial, especially in the vibrant state of Kerala. This concise guide offers clear steps for downloading the voter list, searchin..
  Click here to get a detailed guide

Related Questions