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Tax Treatment of Corpus Fund received From Builder
The builder has Deducted TDS of Corpus Fund U/S 194IC then Corpus fund is taxable or non taxable??
Replies (4)
Its taxable u/h. capital gains; but at the time of receipt of Completion Certificate.
I think mutuality concept applies and hence may not be taxable in the hands of Co-operative Housing Society.
but the TDS has been deducted ?
Yes, and the same can be carried forward during filing of ITR till its taxability.
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