Interest on Compensation Taxed as 'Income from Other Sources' per Sections 145A(b) and 56(2)(viii) of Income Tax Act.

Character of income - accrual of income - The cumulative effect of Section 145A(b) and Section 56(2) (viii) would be that any interest received on compensation or on enhanced compensation shall be taxable under the head 'income from other sources' in the year of receipt. .....

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