Is compensation received on dismentalling of building
This query is : Resolved
25 September 2019
Sir,
our company received a compensation on account of dismentalling of building from National High Way authority of India amounting to Rs 2978278/-.Kindly guide me is that received amount is taxable under income tax act 1961.
Rajinder Singh
Paonta Sahib Mob 9625762830
our company received a compensation on account of dismentalling of building from National High Way authority of India amounting to Rs 2978278/-.Kindly guide me is that received amount is taxable under income tax act 1961.
Rajinder Singh
Paonta Sahib Mob 9625762830
25 September 2019
Not taxable as no transfer of property involved and payment is only a compensation for loss of property.
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