Alternate accommodation rent taxation

Mohammed Vaid (Querist) 26 May 2013 This query is : Resolved
My builder is reimbursing us for alternate accommodation with 50000 per month for redeveloping our building. I have purchased additional 250 area in the new construction as an extention to our new home.
Can I settle my additional purchase amount with accommodation rent reimbursement?
How the taxation would be done?

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Raj Kumar Makkad (Expert) 26 May 2013
You can definitely make an additional agreement with the developer in the light of changed circumstances and your reimbursement of rent shall be treated as tax free.

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