https://www.taxtmi.com/forum/issue?id=118728 Payments to a member for surrendering club membership are characterised as consideration constituting a supply of service liable to GST; if the member is a taxable person he must collect and remit GST and the club may be able to claim input tax credit. For income tax purposes the surrender payment is treated as consideration giving rise to capital gains rather than non taxable compensation. en-us Fri, 01 Sep 2023 11:51:29 +0530 Thu, 23 Jan 2025 14:23:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=118728 Payments to a member for surrendering club membership are characterised as consideration constituting a supply of service liable to GST; if the member is a taxable person he must collect and remit GST and the club may be able to claim input tax credit. For income tax purposes the surrender payment is treated as consideration giving rise to capital gains rather than non taxable compensation. Discussion-Forum Income Tax Fri, 01 Sep 2023 11:51:29 +0530 https://www.taxtmi.com/forum/issue?id=118728