interest on enhanced compensation received for acquiring of urban land
rupees 50,000.
In above case an assessee can take deduction? and upto the rate of deduction is allowed..?
Menu
Others source income
Replies (2)
50% deduction is available
1. Income by the way of interest received on compensation or enhanced compensation will be subject to tax u/s 56(2)(viii).
2. As per sec 57(iv) deductions to the extent of 50% on the interest amount received will be available and no other deductions will be available.
Please correct me if the above solution has an alternative view.
Recent Topics :
- Built a simple tool to automate client document fo
- Capital Gain on Sale of SRA Allotted Flat Received
- Discrepancy in Auto populated figures in GSTR1 of
- What should I do after receiving a GST Show Cause
- Discuss and Download CA Inter Question Paper Septe
- Hi experts needed some help
- Gift of Immovable Property u/s 92 of Income Tax Ac
- NSE BSE Pre-open session changes from 7 September
- Financial statements for non corporate entities
- Hi experts need some help
Related Topics :
CAclubindia
