TRANSFER OF TENANCY RIGHTS
This query is : Resolved
Quick Summary
BUDDHADEB DAS
(Querist)
22 January 2020
One tenant received Rs 20 lac from developer/building owner as her tenancy dismissed by them and give her compensation rupees 20 lac.
Now the question is that compensation can be treated as her income and what is the tax liability as she received compensation in 3 cheques .Now she has no income but she has capital assets i.e.20 lac received form the developer.
How she survive by not paying any tax to Government?
This compensation can be treated as long term capital gain?
Can she invested the amount in Government bond to get relief from tax burden?
Now the question is that compensation can be treated as her income and what is the tax liability as she received compensation in 3 cheques .Now she has no income but she has capital assets i.e.20 lac received form the developer.
How she survive by not paying any tax to Government?
This compensation can be treated as long term capital gain?
Can she invested the amount in Government bond to get relief from tax burden?
Amol S Joglekar
(Expert)
22 January 2020
This is long term capital gain.
KAVIRAJA ADDANGADI
(Expert)
22 January 2020
Yes, it's comes under LTCG you can invest in long-term capital gain bond to save tax
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