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COMENSATION. RECEIVED FROM BUILDER IS TAXABLE OR NOT

This query is : Resolved 
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(Querist)
26 July 2024 Sir I HAD BEEN GIVEN A COMPENSATION FROM BUILDER AS DELAYED INTEREST ON POSSESSION OF FLAT BOOKED IN 2013 and agreed date of possession is 31 dec 2016 . I am not exiting thevproject and soon possession of flat will be given by builder in next month. Whether there is any laiblity of Income Tax or Not
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
26 July 2024 Yes, it is taxable under head IFOS.
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Gokul Sharma

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Gokul Sharma (Expert)
26 July 2024 TAXABLE UNDER INCOME FROM OTHER SOURCES
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