Question ID :
40791
TAX ON RIGHT TO USE OF LAND
My client has made right to use agreement with Power Grid Corporation for installation of Power Transmission line in the land for an infinite period and received compensation .
The land has been declared as residential land in revenue record .
Plz clarify the nature of income and tax position
Thank you
Posted by
PONNUSAMY R
on
Aug 19, 2020
Filed Under
DIRECT TAXES
It will be taxable under the head income from other sources.
Posted by
CA. chunauti dholakia on
Aug 26, 2020