CORPUS/COMPENSATION/ON REDEVELOPMENT FROM BUILDER

I SHEEK EXPERT ADVICE ON TAX TRATMENT ON FOLLOWING ISSUE :

1) CORPUS FUND RECEIVED BY A MEMBER FROM THE BUILDER FOR REDEVELOPMENT OF OLD RESIDENTIAL BUILDING. PAYMENT DIRECTLY MADE TO MEMBER.

2) CORPUS GIVEN TO SOCIETY AND CREDITED IN MEMBERS A/C. FUND REMAIN WITH THE SOCIETY.

3) WHAT SHALL BE IMPLICATIONS FOR THE EXTRA / ADDITIONAL AREA GIVEN BY THE BUILDER. WOULD IT BE TAXABLE AS A CAPITAL GAIN.