Skip to main content

Tax relief on builder-paid rent in redevelopment projects

The Income-Tax Appellate Tribunal’s (ITAT) Mumbai bench recently held that the rental compensation received from a builder due to a redevelopment project is not taxable in the hands of the former flat owner. ITAT adopted this stand even as the taxpayer, the former flat owner, had not taken another accommodation on rent but had moved in with his parents.

The Income-Tax Appellate Tribunal’s (ITAT) Mumbai bench recently held that the rental compensation received from a builder due to a redevelopment project is not taxable in the hands of the former flat owner. ITAT adopted this stand even as the taxpayer, the former flat owner, had not taken another accommodation on rent but had moved in with his parents. from Times of India https://ift.tt/2aN4fdv
Labels:

Comments

Post a Comment

Popular posts from this blog

Amazon adds a 'warning' label for these iPhone cases, here’s why

Apple launched FineWoven iPhone cases with the iPhone 15 series. Amazon added a 'Frequently returned item' label to caution buyers. Prices for 'used' cases reduced, and users have mixed opinions. Tech journalist Joanna Stern shared a negative experience with the case. Apple launched FineWoven iPhone cases with the iPhone 15 series. Amazon added a 'Frequently returned item' label to caution buyers. Prices for 'used' cases reduced, and users have mixed opinions. Tech journalist Joanna Stern shared a negative experience with the case. from Times of India https://ift.tt/y6k3r2m
Post a Comment
Read more

Drunk Bihar school teacher announces 'holiday', tells students to go home

A teacher in Bihar's Rohtas district allegedly declared a holiday while under the influence of alcohol, instructing all students to go home. The education department has taken action against the teacher. It is worth noting that Bihar has been under total prohibition since April 2016, with the consumption, sale, and supply of alcohol completely banned. A teacher in Bihar's Rohtas district allegedly declared a holiday while under the influence of alcohol, instructing all students to go home. The education department has taken action against the teacher. It is worth noting that Bihar has been under total prohibition since April 2016, with the consumption, sale, and supply of alcohol completely banned. from Times of India https://ift.tt/X3GjzQ0
Post a Comment
Read more