Received amount tax applicable for income tax purposes
This query is : Resolved
Kollipara Sundaraiah
(Querist)
09 July 2024
Sir,
Assessess maintained a jewellery business in own commercial building.if assessess commercial building demolished govt for road extension purpose.assesses rs:15 lacs amount received from govt
Question:
Assessess received amount tax applicable for income tax purposes.
Assessess maintained a jewellery business in own commercial building.if assessess commercial building demolished govt for road extension purpose.assesses rs:15 lacs amount received from govt
Question:
Assessess received amount tax applicable for income tax purposes.
Dhirajlal Rambhia
(Expert)
10 July 2024
It can be declared under Capital gain after reducing indexed cost of the building.
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