269ss&t
This query is : Resolved
B.V.Vijaya Lakshmi
(Querist)
03 May 2014
sir,
An assesse received advance for sale of immovable property for Rs.1500000/- since the deal is cancelled. The assesse has repaid the advance by cash weather the provisions of the sec.269SS&T are attracted please explain me about it elaborately.
An assesse received advance for sale of immovable property for Rs.1500000/- since the deal is cancelled. The assesse has repaid the advance by cash weather the provisions of the sec.269SS&T are attracted please explain me about it elaborately.
Nikhil Kaushik
(Expert)
03 May 2014
269T should apply in this case as you are giving back a deposit in cash exceeding rs 20000/-
it is a simple provision with little ambiguity. only trade advances are kept out of 269t
it is a simple provision with little ambiguity. only trade advances are kept out of 269t
B.V.Vijaya Lakshmi
(Querist)
05 May 2014
thank you very much sir
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