There is a shop in a complex and Business is closed because of construction work going on in the complex.
For this complex owner is giving the compensation.
how to treat this compensation in computation of income and under which and what are the deductions available if any.
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Compensation for business shut down
Replies (2)
It will be treated as 'Income from other Sources'; but subject to deduction of any rent paid for transfer of shop premises uptill the time of completion of new complex/building......
in my view
As per Section 28 it is chargeable under Business or Profession
As per Section 28 it is chargeable under Business or Profession
CAclubindia
