One of my relatives has received certain sum of money from his builder for vacating the reseidential flat in Mumbai. Just wanted to check whether this compenstaion (received in cheque ) is taxable in the hands of receiver or can we consider this compensation amount as a capital receipt.Please help.
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Compensation received for vacating residential premises
Replies (2)
It is taxable as capital gains
There are many judgements in this regards
How can it be a capital gain, the property is not owned by him.
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