Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 May 2013
in 2007 i have deposited rs. 9 Lakhs for booking a flat. only receipt given to me for said amount no agreement made. but this flat not alloted to me . after that i wanted compensation for that flat then rs. 21 lacks given to me as compapensation total 30 ( 9+21) laks received.
so i want to know any tds, capital gain lability arise .. or 54 exemption available
Further if situation in opposite side then what type of tretment avialable ( like if i given compensation )
so i want to know any tds, capital gain lability arise .. or 54 exemption available
Further if situation in opposite side then what type of tretment avialable ( like if i given compensation )
13 May 2013
since there was no agreement, therefore no right transfered. So. there is no question of capital gain;no exemption u/s 54
Rs. 21 lac shall be taxable u/h Other source
TDS provisions are also not applicable because compensation is in the nature of Penalty.
on the other side: if you are a builder then you can claim it as a expenditure(compensation paid)
opinion of other experts are also welcomed
thanks!
Rs. 21 lac shall be taxable u/h Other source
TDS provisions are also not applicable because compensation is in the nature of Penalty.
on the other side: if you are a builder then you can claim it as a expenditure(compensation paid)
opinion of other experts are also welcomed
thanks!
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