Fund received from the builder

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 July 2011 A salaried employee received corpus fund of Rs 100000/- from the builder under redevelopment scheme of residential building of him and 2 months rent as brokerage from the builder ?

Is it taxable in the hand of employee ?

Please help in this matter, i have to submit the return before 31st july, 2011.

Thanks in advance.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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26 July 2011 Corpus fund is generally received by the Society but if it has been received by you then it is taxable in your hand. Rent received by you is also taxable

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