Taxable income or not ?

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 February 2011 Rent Received and the CORPUS FUND received in lieu of Redevelopment of Society is taxable or not?
Please suggest as early as possible and try to give any reference.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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07 February 2011 Rent received for alternate accomodation is taxable under the head income from other sources. No doubt about that.

In case of corpus both views are being taken of it being taxable and not taxable and many litigations are on for the same. So cannot comment.