Interest as part of compensation on property acquired
This query is : Resolved
06 February 2014
The property has been acquired by Railways and amount of compensation received also includes some amount of interest as per details given by railways but no TDS has been deducted on interest figure by Railways.
So will the interest figure be included in total value of consideration received for calculating capital gains OR will the interest amount be taxable as income from other sources
So will the interest figure be included in total value of consideration received for calculating capital gains OR will the interest amount be taxable as income from other sources
06 February 2014
Interest will be taxed separately it is not forming part of your capital assets. Only sale value of the land shall qualify for capital gains
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