Amount received by flat holders
This query is : Resolved
08 March 2016
whether amount received by flat holders for their displacement and occupancy in another house in development of original building ,from builder is taxable ? Any case law?
09 March 2016
The query is not clear....
1) who displaced you? Builder? Government under any law? or are you member of housing society?
2) Have occupied Builder's property on exchange basis? or on rental or rent free basis as a tenant?
1) who displaced you? Builder? Government under any law? or are you member of housing society?
2) Have occupied Builder's property on exchange basis? or on rental or rent free basis as a tenant?
09 March 2016
Not taxable. For case law please see http://www.phd-ca.com/Image/Direct%20Tax%20Alert.pdf
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