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Corpous fund (Income Tax)

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This query is : Resolved

Author : Anonymous

( Author )
04 February 2013

 WILL CORPOUS FUND (GIVEN BY THE BUILDER TO THE MEMBER FOR MONTHLY MAINTAINCE EXPENSES IN FUTURE) WILL BE TAXABLE IN HANDS OF RECIEVER OR IT WILL BE TREATED AS CAPITAL RECIEPT OR REVENUE RECIEPT


CA PARAS BAFNA

( Expert )
04 February 2013

 Corpus Fund given to the member of a Society under redevelopment by the Developer is not taxable. It is a Capital Receipt.



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