arpit (Manager) (247 Points)
11 January 2015One of my relatives has received certain sum of money from his builder for vacating the reseidential flat in Mumbai. Just wanted to check whether this compenstaion (received in cheque ) is taxable in the hands of receiver or can we consider this compensation amount as a capital receipt.Please help.
Z
( )
(2965 Points)
Replied 11 January 2015
It is taxable as capital gains
There are many judgements in this regards
arpit
(Manager)
(247 Points)
Replied 11 January 2015
How can it be a capital gain, the property is not owned by him.
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