Payment of compensation on acquisition of certain immovable property

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..... onsideration on account of compulsory acquisition, under any law for the time being in force, of any immovable property (other than agricultur­al land), shall, at the time of payment of such sum in cash or by issue of a cheque or draft or by any other mode, whichever is earlier, deduct an amount equal to ten per cent of such sum as income-tax thereon: Provided that no deduction shall be made .....

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..... e property" means any land (other than agri­cultural land) or any building or part of a building.] --------------------- Notes :- 1. Inserted by the Finance (No. 2) Act, 2004, w.e.f. 1-10-2004. 2. Substituted vide Finance Act, 2012, w.e.f. 01-07-2012, before it was read as:- "one hundred thousand rupees" 3. Substituted vide THE FINANCE ACT, 2016 w.e.f. 1st day of June, 2016 .....

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