Taxability of surrender of tenancy rights
This query is : Resolved
09 July 2018
Surrender of Tenancy Rights is transfer of capital Asset and laible to capital Gain
Further, COA will be NIL.
The issue is the original tenant is dead.
And Compensation received by his legal heirs.
Please suggest whether it will be taxable in the hands of legal heirs or exempt treating it as casual/non-recurring income u/s 10(3)
Further, COA will be NIL.
The issue is the original tenant is dead.
And Compensation received by his legal heirs.
Please suggest whether it will be taxable in the hands of legal heirs or exempt treating it as casual/non-recurring income u/s 10(3)
13 July 2018
TAXABLE IN THE HANDS OF LEGAL HEIRS.AS CAPITAL ASSET IS SUCCEDED IN THE FORM AND NATURE OF CAPITAL ASSETS IN THE HANDS OF LEGAL HEIRS.
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