Capital gain

This query is : Resolved

Share Report Follow Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

18 October 2014 why advance money forfieted by previous owner is not deductible ?

CA VISHWAKEERTHI.P.S.

CA VISHWAKEERTHI.P.S. (Expert)
Follow

18 October 2014 Definitely not deductible .

But in the hands of owner cost of the assets for which advance received will be reduced to the extent of advance amount forfeited.

Querist : Anonymous

Querist : Anonymous (Querist)

19 October 2014 what is da reason behind it ??

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

19 October 2014 This is a compensation to the seller as he has to find a new buyer and also for delay in realization of money.

Anand

Anand (Expert)
Follow

20 October 2014 Can u please explain with example !!

Querist : Anonymous

Querist : Anonymous (Querist)

20 October 2014 but the so calld compensation is deducted from the cost when we calculate CG..
den hw can it b a cmpnstn..????

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

21 October 2014 For the purpose of income tax any compensation received will be under the purview of income tax.

Querist : Anonymous

Querist : Anonymous (Querist)

21 October 2014 Can u explain wth an example..??
Not satisfied wth the answer !!..

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

P.S.Harishankar

madhuseshu yathirajam

Anurag Sharma

Vinod Patil

SANJAY GOSALIA

Subscribe Now

Capital gain

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Sr. Financial Analyst - Consolidation

CA ARTICLE

Chartered Accountant

Article Assistants

Financial Analyst - Remote Finance Expert

Post office

Accounts & Tax Executive

CA Article /Trainee