How calculate in account ?

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

15 March 2010 One of my client Live in juhu area. Is building has gone in to redevelopment and builder has given him a compansation for 18th month rent from April 10 to Rs. 45000/- p.m. totaling to rs. 840000/- he has also received hardship allawance Rs. 643000/- My question is 1) if taxable than which AY will be taxed ?
2) expenses and rent , conveyance etc. are allowed against income or not if taxable than under which head ? capital gin or other income ?
3)What are the ways to save tax ?

CA Ashok Kumar Sahu

CA Ashok Kumar Sahu (Expert)
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15 March 2010 as per my opinion, total amt. received in repletion to Building because of that it's cover to capital gain, for tax saving purchase another house property or invest in capital bonds

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