Daily Archives: August 23, 2015

Premium received by society on transfer of plot Not Taxable

Premium received by society on transfer of plot Q :Whether premium collected by Society collected on transfer of plots is a capital Receipt and hence not taxable ? Section 4 of the Income-tax Act, 1961  Subject: Whether Income on Transfer of plots is Capital reciept or revenue reciept Assessment year 1986-87 Facts of the case : Assessee co-operative… Read More »