Sukla Bhadra (50) was detained by the proprietors of a local steel factory on suspicions that she was a thief when she went for her morning walk, police said.
The steel factory owner Sanjib Ghose (42) and his wife Eti (39) allegedly tied up the woman and beat her to death, they said.
Neighbours, who were alerted by the cries of the woman, saw her being thrashed by the couple inside their compound and informed the police.