Income tax on amount of compensation

This query is : Resolved

RAMESH KUMAR ARORA (Querist)
Follow

16 January 2020 How to depict in ITR,the following amounts received from a builder for not giving a plot.for which 50 % cost was paid more than 7 years back. The compensation has been allowed by State Consumer disputes redressal Commission,
Refund of amount with 12 % interest.Rs 1250550
punitative damagesRs.100000
Compensation for harrasment Rs. 20000

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

16 January 2020 if you are of the opinion that these amounts are exempt, you can show it under the column of exempt income in the return of income.

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

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

CA.Pinank Arvindbhai Shah

venkanna setty

Vignesh Killur

Tax Expert Group

NIKHIL GUPTA

Subscribe Now

Income tax on amount of compensation

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

Accountant

Article Assistant

CA Final

GST CONSULTANCY