Dear Friends ,
In case a transit rent is received i.e. rent received for temporary accomodation in case of redevelopment of old buildings then how will such transit rent charged to taxed whether it will be income from house property or the same will be exempt from tax.
Kindly refer the following link. this might solve your
queryhttps://www.itatonline.org/articles_new/index.php/treatise-on-the-law-of-real-estate-development-contracts/
sunil
thank u fir your help...
Thank u sir for the good link u have provided
CAclubindia
