Compensation amount of RS.16441000 + (interest of rs.14152365) received for cancellation of property due to litigation whether taxable as capital gain, if it is taxable under which section it is taxable, since agreement of sale is entered and in financial statement it is shown as capital work in progress.my client receives amount of rs. 16441000 which he paid initially through cheque above to that he is getting interest amount of rs. 14152365 which excluding tds @ 11.96% whether this interest is taxable, if it is taxable under which section it is taxable. can someone give suggestions for above issue.
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