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Interet on Enhanced Compensation on Compulsory Acquisition

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Querist : Anonymous

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Querist : Anonymous (Querist)
17 March 2011 Whether interest received on enhanced compensation is capital gain or income
from other sources ?
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
17 March 2011 according to me its includs in 'income
from other sources'
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
17 March 2011 It is income from other sources as per section 56(2)(viii) of the Income tax Act,1961. Further 50% deduction can be claimed under section 57(iv) of the said act.
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