One flat is in the name of my mother who is now expired. I stay at my flat. As discussed, I had enrolled my name in the property on behalf of my siblings. Builder has paid me the compensation rent accordingly after deducting TDS.
On portal it shows as transaction under "Sale of immovable property".
Q1. Is the amount taxable?
Q2. Where to show it in ITR if taxable and if not taxable where and how to show it
How much tax should I pay on it, if it is required. Surely, I have not used the amount. Still it is in the bank.
CAclubindia
