Hi, Following are the facts related to my query: 1) Mr. A was staying in a house property in capacity of a tenant. 2) The owner of property went for redevelopment of the said property during period of tenancy. 3) After redevelopment, the owner offered Mr. A a place which was less in area as compared to the area mentioned in earlier tenancy agreement. 4) In connection with such lesser area offered, owner paid a lump sum compensation of Rs. 14,00,000/- (including Rs. 1,31,500/- towards Stamp Duty and Registration charges) to Mr. A and entered into a lease agreement for future period. 5) Kindly suggest me the tax treatment of the said compensation of Rs. 14,00,000/- in the hands of Mr. A 6) Mr. A is a senior citizen having no other income. Thanks in advance.
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