Compensation from foregoing of right in land with building @10 percent to eldest sister who is now in occupation

Compensation received from property which was owned by father who died in1995
Replies (2)
Quick Summary
This discussion clarifies the tax implications of compensation received for foregoing rights to a property. When you relinquish rights to land, especially if it involves a building and is part of an inheritance, it's considered a transfer. This transfer typically attracts Capital Gains Tax, meaning you'll need to account for it in your tax returns.

Amounts to relinquishment and is therefore a transfer hence it attracts capital gains
It will be treated as capital gains

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 29 October 2026
Accounts Executive

Synergy Keystone

Chennai

B.Com

View Details
Company
31 October 2026
Accountants

sankaran and krishnan

New Delhi

B.Com

View Details
Company
12 October 2026
AUDIT , ACCOUNTS AND TAXATION

KDSS

New Delhi

B.Com

View Details
Company
14 October 2026
Accountant

Rize.farm

Bengaluru

B.Com

View Details
Company
Featured 27 October 2026
semi-qualified CA

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Final

View Details
Company
Featured 07 November 2026
Paid Assisstant

DPV & Associates

Chennai

CA Inter

View Details
Company
Featured ARTICLESHIP 28 October 2026
CA- Inter and Articles

N N V Satish & Co.,

Hyderabad

CA Inter

View Details
Company
28 October 2026
Assistant Director/ Associate Director-Finance & Accounting

Krea University

Chennai

CA

View Details