banner_ad

Income due to building redevelopment and tax

Tax queries 573 views 2 replies

Respected Sir/Madam,

Due to redevelopment of the society building I have received some corpus fund, rent compensation for alternate house (as original building is no longer there) and funds towards expenses like transportation (material movement & agent brokerage) from the builder.

I suppose corpus is tax free and rent is taxable but what about funds received towards minor expenses like transportation. Request you to confirm.

Thanks

Replies (2)
I hv received some corpus fund but it's not acceptable. corpus is tax free.
Funds for transportation (material movement & agent brokerage) from the builder is taxable under income from other sources. however you can corresponding expenses imcurred as a deduction


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
07 June 2026
Tax Associate

Rajkumar Jain & Co.

Ahmedabad

Graduate (Any)

View Details