I recently received 1/3 share in ancestral property . It is a flat in chsl. I am not residing in the said flat. Now the same society is under redevlopment process and i received 1/3 share as per court order by way of rent,corpus,transportaion charges and brokrages for last three years. The amount is received in the month of March 2018 for the period statrting from 2015.
Pl guide me how m i to treat this income in my Income tax return for AY 2018-2019. The above amount received by me will fall under which section of IT Act.
my email address rajanikantraval @ yahoo.com
Regards
Rajanikant Raval
CAclubindia
