My property is acquired by Karnataka industrial area development board ( KIADB) for the purpose of Bangalore metro. Preliminary notification 28 (1) was issued on 09-10-2013 and 28 ( 6 ) was done on 30-03-17. The compensation is calculated as per the provision of LARR Act. as per section 96 of LARR compensation received is exempt from income tax. My query is
1. Only calculation of compensation is done as per LARR other proceedings are done as per KIADB. Whether section 96 is applicable and claim income tax benefit
2. To give effect of S96 of LARR proviso to S 194LA of income tax was inserted w.e.f. 01-04-17 for non deduction of TDS. Whether the acquisition officer is required to deduct TDS.
3. If TDS provisions are not applicable and TDS is deducted by the officer. In that case can I claim the balance compensation ( to the extent of TDS as the law not allows him to deduct TDS) .
4. What is the period on which interest is paid on compensation. Is it date of 28 (6) or date of actual payment of compensation