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Transit rent paid by builder not income, cant be taxed: Bombay HC

Dated on: Tuesday 28th May 2024

In a landmark ruling, the Bombay High Court has determined that transit rent, paid by developers to flat owners/tenants during dispossession, is not considered a revenue receipt and thus not taxable for the recipient. Consequently, developers are not required to deduct tax at source (TDS) from these payments.

Source: ET Realty