TDS deduction on compensation or hardship money as rent or corpus fund

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1 Points Posted on 03 February 2022

Is TDS deduction applicable on compensation/Rent and corpus funnd or hardship money received from Redeveloper? 

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On 03 February 2022 at 00:19 Report
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This discussion clarifies whether Tax Deducted at Source (TDS) is applicable on compensation, rent, or corpus funds received by flat owners from developers during redevelopment projects. The consensus is that hardship money or corpus funds are generally treated as capital receipts, not subject to income tax, and therefore TDS is not applicable.

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Chartered Accountant
48 Points Posted on 03 February 2022

Sum received by flat owners from developer as corpus fund in regards to hardships caused for redevelopment will be treated as capital receipt and hence not subject to income tax. Therefore TDS is also not applicable. 

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On 03 February 2022 at 09:37
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Chief Accountant
3150 Points Posted on 04 February 2022
TDS not applicable..
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On 04 February 2022 at 21:03

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