Capital gain
This query is : Resolved
29 January 2016
what is the treatment of compensation paid on cancellation of allotment of flat?
can it be a capital receipt?
Abhishek gupta
(Expert)
29 January 2016
Relenquishment of the right may amount to "Transfer of right to purchase flat " and thus liable to capital gain.
Can refer to the following link:
https://abhishekeaconsultacyservices.blogspot.in/2016/01/transfer-of-right-to-purchase-flat-as.html
Can refer to the following link:
https://abhishekeaconsultacyservices.blogspot.in/2016/01/transfer-of-right-to-purchase-flat-as.html
30 January 2016
It is taxable under the head'income from other sources' w.e.f 1.4.2015. Pl see section 56.
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