Rent received in case of demolition

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38 Points Posted on 26 December 2020
my residence building went for demolition and the builder gave me rent amount for accommodation. should this income be included in ITR. If so then under what head since i don't have a house property, it cannot be classified as rental income
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On 26 December 2020 at 12:22 Report
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Quick Summary
If your residential building was demolished and you received rent from the builder for alternative accommodation, you need to declare this income in your Income Tax Return (ITR). Although it's not traditional rental income from a house property, it is considered taxable income. This income typically falls under the 'Income from Other Sources' (IFOS) head.

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734 Points Posted on 26 December 2020
IFOS head
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On 26 December 2020 at 21:21
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38 Points Posted on 26 December 2020
So it is completely taxable?
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On 26 December 2020 at 22:44
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734 Points Posted on 27 December 2020
Yesssss
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On 27 December 2020 at 06:24

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