Amount tax applicable

This query is : Resolved 

Quick Summary
This discussion clarifies whether compensation received from the government for a commercial building demolished for road extension purposes is subject to tax under the Income Tax Act. The consensus is that such compensation is indeed taxable.

12 July 2024 Sir,
Assessess compensation received from govt for demolished a part of commercial building under road extension purpose
Question:
Assessess received amount tax applicable in it act

12 July 2024 Yes applicable...

25 August 2024 You are welcome.


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