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Tag: transit rent

GST ArticleHigh Court

Income characterization in Taxation: Recipient vs. Prayer Perspective

byVikash Agarwal30/05/202430/05/2024

Recently, the Hon’ble Bombay High Court held that transit rent paid by a developer to a flat owner or tenant is not in the nature of rent but is akin to a hardship allowance, rehabilitation allowance or displacement allowance.

Income Tax in Media

Bombay HC: Transit rent not taxable, not subject to TDS

byAdmin08/05/202408/05/2024

The Bombay high court recently ruled that rental compensation also termed as “Transit rent,” received from a builder during a redevelopment project, is not taxable and hence not subject to Tax Deducted at Source (TDS).

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