Surrendering Sub-Tenancy Rights: Capital Gain, Not Casual Income, Not Taxable u/ss 10(3) or 56 of Income Tax Act.

Surrendering Sub-Tenancy Rights: Capital Gain, Not Casual Income, Not Taxable u/ss 10(3) or 56 of Income Tax Act. https://www.taxtmi.com/highlights?id=21938 Surrender of sub-tenancy right - capital gain v/s casual income - it cannot be treated as a casual and nonrecurring receipt under section 10(3) and subject to tax under section 56 of the Act. If the income cannot be taxed under section 45, it cannot be taxed at all. - HC en-us Wed, 25 Feb 2015 12:32:42 +0530 Wed, 25 Feb 2015 12:32:42 +0530 TaxTMI RSS Generator Surrendering Sub-Tenancy Rights: Capital Gain, Not Casual Income, Not Taxable u/ss 10(3) or 56 of Income Tax Act. https://www.taxtmi.com/highlights?id=21938 Surrender of sub-tenancy right - capital gain v/s casual income - it cannot be treated as a casual and nonrecurring receipt under section 10(3) and subject to tax under section 56 of the Act. If the income cannot be taxed under section 45, it cannot be taxed at all. - HC Highlights Income Tax Wed, 25 Feb 2015 12:32:42 +0530 https://www.taxtmi.com/highlights?id=21938