Section 194L of ITA, 1961 : Section 194L: [Omitted]
ITA, 1961
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Explanation using Example
Imagine a scenario where a government agency decides to acquire land for a public infrastructure project. Prior to June 1, 2016, if the agency paid compensation to a landowner for the acquisition of this land, which is a capital asset, the agency would have been required to deduc...
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