Compensation Money

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RAHUL WADHWANI (Querist)
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06 October 2017 Dear Sir,Mam My client received 2 lacs rupees compensation money from goverment so plz tell me it is taxable or not.

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CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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06 October 2017 Compensation received for which purpose.....

RAHUL WADHWANI

RAHUL WADHWANI (Querist)
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06 October 2017 Mam for Shop submerge in Flood water.

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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06 October 2017 Depends on your other income ..... If all income is below 250000/- then not taxable.

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RAHUL WADHWANI

RAHUL WADHWANI (Querist)
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06 October 2017 Your means it is a part of income.

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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07 October 2017 Yes Compensation received is also your income from capital Gain...

RAHUL WADHWANI

RAHUL WADHWANI (Querist)
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07 October 2017 Mam plz clarify me but why this income shown in the head of captial gain, and also plz tell me how to calculate the capital gain.

RAHUL WADHWANI

RAHUL WADHWANI (Querist)
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07 October 2017 Mam... ?????????????????????

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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07 October 2017 Destruction of capital assets also considered as transfer under IT Act & conpensation received for same is your sales consideration.

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CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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07 October 2017 Capital Gain calculated by deducting Indexed Cost of Acquisition from Sales Consideration i.e. Compensation.

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RAHUL WADHWANI

RAHUL WADHWANI (Querist)
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07 October 2017 Thnxx Mam appreciate the prompt response..

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CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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07 October 2017 Welcome.......

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Compensation Money

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