capital gain calculation

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ABHISHEK (Querist)
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07 April 2009 Suppose Mr. A lives in rented house ,the owner of his house sold that house to developer,Mr.A accepts sum amount of money from developer to vacant the rented house.
In this case the amount received by Mr.A from developer wheather considered as capital gain? If yes how the gain will be calculated? what will be the cost of acquisition?

Mukund

Mukund (Expert)
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07 April 2009 it is considered as a capital gain on account of Tenancy right of tenant cost of acquisition will be zero or if any deposit amount or pagadi ginven to the owner of house

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