I have taken the stand off my samsung tv to wall mount it but there is a circular part still on the bottom which is below tv and it doesnt look right? is this part removable?

Good luck with that. As soon as these sets go out of production, so do most of the parts associated with them. You would be better served to get a TV table stand that uses a wall-mount-style backer. That way you get the tabletop mount and the extra security of knowing it won't get knocked over easily. Something like this....

The wall mount attaches to the top 1/3 portion of the TVs rear panel. The bottom of the back of the TV should not interfere with your wall mount if it's the correct size. Full instructions are listed starting at page 39 of the manual.
http://downloadcenter.samsung.com/content/UM/201404/20140426112621559/[X13_NA]BN46-00319C-04ENG-0312.pdf

I could not locate a stand for purchase on http://www.partstore.com/Model/Samsung/Samsung/PDP4294LV1.aspx
By the way, your tv is a rebranded Samsung model.
Without the stand, you only option would be to wall mount the tv.
You can purchase a wall mount for your tv from your local Wal-Mart or something to that effect for around $30.

Hi, i have instruction on removing your base stand.

Removing the Pedestal Stand
1) Carefully lay the front of the unit face down on a flat,
cushioned surface such as a quilt or blanket. Leave the stand
protruding over the edge of the surface.
Note: Extreme care should always be used when removing
the pedestal stand to avoid damage to the LCD panel.
2) Remove the jack pack cover on the back of the TV to expose
the pedestal stand screws. The jack pack cover can be removed
without tools.
3) Remove the four screws shown in the diagram below. This will
allow removal of the pedestal stand.
4) Once you have removed all four screws holding the pedestal
stand in place, remove the pedestal stand from the TV by
sliding the pedestal stand away from the TV.

Dont know this exact model, but I own a Samsung and so does my father so this proably applies:

The cover plate is supplied for use when the TV is wall mounted using a VESA mount secured to the four holes on the back of the TV. When wall mounted, the normal stand is removed and this leaves a bit of an unsightly "hole" in the case at the bottom. The cover you mention is then secured in place of the stand to make the bottom of the TV nice and neat.
You may find there was a separate leaflet in the box the TV came in detailing this aspect, which is why it isnt mentioned in the manual.

It will either slide out from the front/back or to the side..Some actually bolt on from the bottom using screws/bolts.And then again some are not meant to be taken off.Make sure it is a wall mountable tv.Then try to take the stand off as directed.

My insignia 26 inch dvd combo TV stand can be removed by removing the access cover to your input connection. There are eleven black phillip-head screws. The three bottom screws also hold the plastic base cover in place. Remove all eleven screws and pull the stand out from below. The four philip-head screws on the back center of the TV is for the location of the wall bracket mount. Good luck.

It is not made for wall mounting unless it has 4 bolt holes in the back cover. Some wall mounts grip the tv on top and bottom, but they look like hell.

I bought the same Samsung, but took it back.

Place the tv on its screen flat on a soft surface,
you need to remove all the screws, not just the stand one marked.
Lift the back panel and then you will be able to slide down the stand, when you have removed the back cover you will also see where how your wall mount will fit to the chassis.
Place all the screws back on the back lid.

check the relay