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Received money to vacate your flat for redevelopment? ITAT clarifies when the compensation may be tax-free

Received money to vacate your flat for redevelopment? ITAT clarifies when the compensation may be tax-free

RSS excerpt

Mumbai ITAT has ruled that ₹82 lakh received by a flat owner as hardship compensation under a redevelopment agreement was not taxable as income. The ruling offers guidance to homeowners receiving compensation from builders during housing society redevelopment.

✦ Single Source 1 news outlet reporting

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