Received Goodwill: Tax Treatment

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253 Points Posted on 21 November 2021
Party received Goodwill from Joint Developer: 30 Lakhs

Under which head of Income to be shown
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On 21 November 2021 at 11:42 Report
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Quick Summary
This discussion clarifies the tax treatment for goodwill received from a joint developer, valued at 30 Lakhs. The consensus is that this should be treated under Capital Gains. The applicable tax rate depends on whether it's a Long Term Capital Gain (LTCG), taxed at a flat 20%, or a Short Term Capital Gain (STCG), taxed at normal income rates.

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Chartered Accountant
24588 Points Posted on 21 November 2021
I think under capital gains
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On 21 November 2021 at 12:43
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253 Points Posted on 21 November 2021
Capital Gains Tax rate please
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On 21 November 2021 at 12:46
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4 Points Posted on 21 November 2021
If LTCG @ 20%, if STCG @ normal rates.
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On 21 November 2021 at 13:54
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Team Lead
7558 Points Posted on 21 November 2021
Capital gains. tax rate for CG will be 20% flat.
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On 21 November 2021 at 13:55
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13 Points Posted on 21 November 2021
Please send me anyone salary payslip format please
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On 21 November 2021 at 17:16
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Chartered Accountant
24588 Points Posted on 21 November 2021
20% LTCG
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On 21 November 2021 at 21:21

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