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.

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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.

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