Our coop society has just obtained a Bank Guarantee of Rs 10 cr. against a default by a builder in redevelopment process. Will that be treated as Income ? If it is then upto what extent the tax liability is ?
Our coop society has just obtained a Bank Guarantee of Rs 10 cr. against a default by a builder in redevelopment process. Will that be treated as Income ? If it is then upto what extent the tax liability is ?
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