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Received amount tax applicable for income tax purposes

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(Querist)
09 July 2024 Sir,
Assessess maintained a jewellery business in own commercial building.if assessess commercial building demolished govt for road extension purpose.assesses rs:15 lacs amount received from govt
Question:
Assessess received amount tax applicable for income tax purposes.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
10 July 2024 It can be declared under Capital gain after reducing indexed cost of the building.

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