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Treatment of forfeited money

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 July 2015 If any money forfeited for not finalization of any agreement then what treatment shall be made in the income tax while computing income tax for amount gainer or losser.
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Basant Jajoo

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Basant Jajoo (Expert)
22 July 2015 Capital Receipt for receiver and No Tax to be paid.

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