Tax Treatment of Corpus Fund received From Builder

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Student CA IPC / IPCC
24 Points Posted on 08 August 2019
The builder has Deducted TDS of Corpus Fund U/S 194IC then Corpus fund is taxable or non taxable??
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On 08 August 2019 at 23:34 Report
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SEO Sai Gr. Hosp.
212537 Points Posted on 09 August 2019

Its taxable u/h. capital gains; but at the time of receipt of Completion Certificate.

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On 09 August 2019 at 11:04
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17269 Points Posted on 09 August 2019
I think mutuality concept applies and hence may not be taxable in the hands of Co-operative Housing Society.
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On 09 August 2019 at 11:15
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Student CA IPC / IPCC
24 Points Posted on 10 August 2019
but the TDS has been deducted ?
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On 10 August 2019 at 09:23
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SEO Sai Gr. Hosp.
212537 Points Posted on 10 August 2019

Yes, and the same can be carried forward during filing of ITR till its taxability.

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On 10 August 2019 at 10:11

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