Compensation
This query is : Resolved
26 February 2018
compensation awarded to the landlord for damages done to his premises rented by the tenent. Is such compensation a capital receipt or revenue receipt in the hands of landlord as per income tax act.
26 February 2018
The receipt is against destruction of a capital asset, hence must be considered
as 'capital receipt'.
as 'capital receipt'.
12 March 2018
Thanks sir. I too felt that should be capital receipt.
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