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Compensation recd.

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(Querist)
27 March 2009 An assessee was using a property on rent from a builder for Rs. 100 p.m. The builder has now paid Rs. 750000/- to assessee as compensation to vacate the property..
Will it be taxable and under which head...
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CA. B.SRINIVASULU

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CA. B.SRINIVASULU (Expert)
27 March 2009 What compensation. Give details of full transaction.
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Mohan Reddy

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Mohan Reddy (Querist)
27 March 2009 An assessee was using a property on rent from a builder for Rs. 100 p.m. The builder has now paid Rs. 750000/- to assessee as compensation to vacate the property..
Will it be taxable and under which head...
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CA LOKESH KASAT, FCA, M.Com

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CA LOKESH KASAT, FCA, M.Com (Expert)
28 March 2009 Income from Other Sources.
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