Chargiability of amount received for vacating the premises

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..... Amount received from shop owner by the shop tenant for vacating the premises is chargeable to income tax?If yes, how?Please clarify. - Reply By Brijesh Verma - The Reply = Dear Sujit Ji This transa .....

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..... ction amounts to 'Transfer' under section 2(47)(ii) of the Income Tax Act as there is a 'EXTINGUISHMENT OF ANY RIGHT THEREIN'. The amount may well be subjected to Capital Gain Tax. - Reply By Suj .....

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..... it Talukder - The Reply = Many many thanks for the reply.One more thing which I need to clarify as there is no amount involed which can be classified as Cost of Acquisition,can the rent pad to landlor .....

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..... d be treated as Cost of acquisition/improvemnet or the entire amount will be taxable as Capital gain? - Chargiability of amount received for vacating the premises - Query Started By: - Sujit Talukder .....

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..... Dated:- 18-5-2007 Income Tax - Got 2 Replies - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement .....

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..... - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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