Taxable income or not ?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 February 2011
Rent Received and the CORPUS FUND received in lieu of Redevelopment of Society is taxable or not?
Please suggest as early as possible and try to give any reference.
Please suggest as early as possible and try to give any reference.
Aditya Maheshwari
(Expert)
07 February 2011
Rent received for alternate accomodation is taxable under the head income from other sources. No doubt about that.
In case of corpus both views are being taken of it being taxable and not taxable and many litigations are on for the same. So cannot comment.
In case of corpus both views are being taken of it being taxable and not taxable and many litigations are on for the same. So cannot comment.
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