INCOME TAX ON CORPUS FUND RECEIVED FROM BUILDER, Income Tax

[SUMEDH AYARE]

Dear Sir

Mhada Colony in Mumbai going for redevelopment. Builder is giving corpus fund Rs.25,00,000/- per member (individually in the hands of member).

I want to know whether any tax attracts or is there any exemption.

If it is taxable what is the rate of tax and under which head.

How to save the tax in the hands of individuals ?????????

Regards

Sumedh 

Posts / Replies

[MARIAPPAN GOVINDARAJAN]

Whether you have got clarified in the above issue? If not please inform.