INCOME UNDER WHICH HEAD
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 December 2009
MY CLIENT IS A PARTNERSHIP FIRM
* BOUGHT PROPERTY IN NAME OF FIRM IN 1989
* SOLD PART OF THE PROPERTY IN 2001, AND WE SHOWED INCOME UNDER CAPITAL GAIN
* IN 2002 PART WAS RESERVED BY CENTRAL GOVT FOR BSNL OFFICE, AND THEY PAID COMPENSATION - WE SHOWED THIS COMPENSATION UNDER CAPITAL GAIN.
* AS THE COMPENSATION WE RECEIVED WAS VERY LESS AND WE FILED A CASE IN COURT OF LAW - KNOW COURT AWARD SOME AMT -
UNDER WHICH HEAD WE HAVE TO SHOW THIS AMT - PLZ GIVE ME GUIDANCE - IF POSSIBLE WITH CASE LAW IF ANY
* BOUGHT PROPERTY IN NAME OF FIRM IN 1989
* SOLD PART OF THE PROPERTY IN 2001, AND WE SHOWED INCOME UNDER CAPITAL GAIN
* IN 2002 PART WAS RESERVED BY CENTRAL GOVT FOR BSNL OFFICE, AND THEY PAID COMPENSATION - WE SHOWED THIS COMPENSATION UNDER CAPITAL GAIN.
* AS THE COMPENSATION WE RECEIVED WAS VERY LESS AND WE FILED A CASE IN COURT OF LAW - KNOW COURT AWARD SOME AMT -
UNDER WHICH HEAD WE HAVE TO SHOW THIS AMT - PLZ GIVE ME GUIDANCE - IF POSSIBLE WITH CASE LAW IF ANY
28 December 2009
Offcourse it is a capital gain.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- PPF interest-As Exempt Income disclosure
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- Under construction property in ITR
- Building tax payment deduction in rental Income
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Rental income of jointly held property
- Indian IT Portal issue in computing tax as per UK-India DTAA
- F & O PROFIT REPORTING FOR AY 2026-27
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
