Compensation received

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

17 July 2012 compensation received against booking of flat whether taxable? n if taxable then which head? and the amount liable for tax?

CA Amit Jaiswal (Expert)
Follow

17 July 2012 If you are getting some compensation, it is for extinguishment of rights.

In this case, capital gain is applicable as it is a transfer.

Querist : Anonymous

Querist : Anonymous (Querist)

18 July 2012 so what should be taken as the purchase cost???

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Unanswered Queries

view all classess