Menu
Corpus fund on redevelopment taxable ?
we will be receiving a corpus fund on redevelopment of our society. will it be taxable ?? Under which head ??
Replies (1)
On the basis of the decision of the Bombay Tribunal in the case of Lohtse Co-operative Housing Society Ltd vs Seventh Income-tax Officer reported at 51-ITD-608, the said corpus fund received by you is in the nature of capital receipt, & hence NOT TAXABLE.
Recent Topic
- GST on Post-OC Installments – Payment Milest
- Sec-54F exemption and Carry forward losses
- FEMA treatment — USD gift from LRS-funded fo
- RSU and Schedule FA related
- ELIGIBILITY FOR COMPOSITION SCHEME
- Doubt regarding the purpose of Section 52(3) of Co
- 112 A Filling
- Long Term Capital Loss in ITR2
- LOAN INTEREST BENEFIT ON NEW TAX REGIME
- Retirement funds under new tax regime
Related Topics
CAclubindia
