Interet on Enhanced Compensation on Compulsory Acquisition
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 March 2011
Whether interest received on enhanced compensation is capital gain or income
from other sources ?
from other sources ?
17 March 2011
according to me its includs in 'income
from other sources'
from other sources'
17 March 2011
It is income from other sources as per section 56(2)(viii) of the Income tax Act,1961. Further 50% deduction can be claimed under section 57(iv) of the said act.
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