INCOME TAX ON REDEVELOPEMENT OF FLAT
This query is : Open
03 July 2026
Dear All,
I have a flat which is currently under redevelopement scheme. The flat is neither self occupied nor rented out.
I received monthly Rent of Rs. 10,000/- and lump sum amount of Rs. 2,00,000/- as a compensation from developer.
Please guide me whether rent and lump sum compensation received is taxable?
Please also guide me on applicability of capital gain & exemption under section 54 in such redevelopement case.
Thanks & Regards
Nirmal
I have a flat which is currently under redevelopement scheme. The flat is neither self occupied nor rented out.
I received monthly Rent of Rs. 10,000/- and lump sum amount of Rs. 2,00,000/- as a compensation from developer.
Please guide me whether rent and lump sum compensation received is taxable?
Please also guide me on applicability of capital gain & exemption under section 54 in such redevelopement case.
Thanks & Regards
Nirmal
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