Advance against property sale
This query is : Resolved
18 April 2026
Sir,
I took an advance of 25 lakh against sale of flat in FA 25 - 26. I used the amount to pay advance to buy a property in Same FA 25 -26. However sale of my flat is scheduled in current financial year.
Is there a tax implication and do I need to show in ITR.
Thanks!
I took an advance of 25 lakh against sale of flat in FA 25 - 26. I used the amount to pay advance to buy a property in Same FA 25 -26. However sale of my flat is scheduled in current financial year.
Is there a tax implication and do I need to show in ITR.
Thanks!
18 April 2026
Whether sale agreement was registered?
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
