Tax on enhanced compensation
This query is : Resolved
23 January 2017
Dear Experts
What is the condition applied for computing capital gain tax. on enhanced compensation received by court order, It includes the interest also ??. The assesses had also claimed loss of capital gain at the time of compulsory acquisition . How would escape from tax net on enhanced compensation ??
Please guide me
What is the condition applied for computing capital gain tax. on enhanced compensation received by court order, It includes the interest also ??. The assesses had also claimed loss of capital gain at the time of compulsory acquisition . How would escape from tax net on enhanced compensation ??
Please guide me
23 January 2017
1. Enhanced compensation ( principal portion) if fully taxable.
2. Interest on enhanced compensation is also taxable subject o deduction u/s 57(iv).
3. Loss (on original compensation ) under the head Capital gains can be carried forward u/s 74(1)(c) subject to the limitation in 74(2).
2. Interest on enhanced compensation is also taxable subject o deduction u/s 57(iv).
3. Loss (on original compensation ) under the head Capital gains can be carried forward u/s 74(1)(c) subject to the limitation in 74(2).
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