On acccount of my redevelopment certain lump sums of money was received by me as rent, part of corpus amount, shifting charges and brokerage ALL STEMMING FROM MY CONTRACT OF REDEVELOPMENT with the builder. In my AIS/TIS these have been shown under Sale of land and Building and some amounts under business income.
I am given to understand that these amounts receivable are in the nature of compensation for hardship and corpus receipts are capital recceipts and hence they are not within the purview of my income of the financial year. TDS has been cut on the amounts received.
My question: How do i handle this in my ITR declaration and communcate to the authorities that the bulk of the amounts received ARE NOT SALE OF LAND and BUILDING and that other mounts ARE NOT RECEIPTS FROM BUSINESS67BA
CAclubindia
