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Taxation on surrender of tenancy right

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(Querist)
16 May 2017 Respected Concern Authority

Question ) what will be the Tax Position in case of Surrender of Tenacy Right of Commercial Property, Is it Consider As transfer Under Income Tax Act, If yes what will be the Cost of Acqision , and what will be the exemption Sources?

please Guide
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
16 May 2017 Yes, the cost of acquisition will be nil. 20% tax payable treating it as long term capital gain. Section 54F and 54EC exemption available
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