Taxation on compromise or settlement money recd
This query is : Resolved
21 September 2016
I Have Client who Recd Rs.30 Lac As Compromise or Settlement Money In Case of Disputed Land.is any Tax Payable on this Money??, How Much it is??, It Is Liable to Capital Gain ???,Under Which Head it is taxable???.Is any Deduction is available for it ???
21 September 2016
Is it surrender of right in land?
30 September 2016
Yes Sir it is Surrendar of Right. How It is Taxable, but No Documentory Evidence is Available.
03 October 2016
it is capital gain....you can avail exemptions u/s 54EC
but why are you saying that there is no documentary evidence?
but why are you saying that there is no documentary evidence?
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Event company query
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
Trending Online Classes
CAclubindia
